How much does it cost to invest in energy storage projects in Southeast Asia

Are investment trends affecting Southeast Asia's long-term goals?

For the moment, there are significant gaps between investment trends and the region’s long-term goals. Southeast Asia’s spending on clean energy represents only about 2% of the global total.

Which energy storage technologies are included in the 2020 cost and performance assessment?

The 2020 Cost and Performance Assessment provided installed costs for six energy storage technologies: lithium-ion (Li-ion) batteries, lead-acid batteries, vanadium redox flow batteries, pumped storage hydro, compressed-air energy storage, and hydrogen energy storage.

How can I export data from Southeast Asia?

Data is now available through the .Stat Data Explorer, which also allows users to export data in Excel and CSV formats. Southeast Asia is a very dynamic region and a driving force behind global energy trends, with a projected rise in energy demand over the coming decades second only to India.

Why are energy security and affordability important for Southeast Asia?

At a time of heightened geopolitical tensions, energy security and affordability remain top priorities for Southeast Asia. The recent global energy crisis highlighted the region’s vulnerability to fuel price shocks, with fossil fuel consumption subsidies soaring to a record USD 105 billion in 2022 – nearly 60% above the previous peak.

Are battery electricity storage systems a good investment?

This study shows that battery electricity storage systems offer enormous deployment and cost-reduction potential. By 2030, total installed costs could fall between 50% and 60% (and battery cell costs by even more), driven by optimisation of manufacturing facilities, combined with better combinations and reduced use of materials.

What fuels are used in Southeast Asia?

Fossil fuels – led by coal – have met nearly 80% of Southeast Asia’s rising energy demand since 2010. Today, oil and coal each make up over a quarter of the region’s energy demand, with natural gas contributing around one-fifth.