Empowering Asia's Energy Transition Through Efficiency and Grid Modernisation
Key Ideas
- Efforts towards energy efficiency and grid modernisation in Asia are crucial for emission reduction and energy security.
- Renewables are increasing globally, but funding needs to rise significantly in regions like Asia-Pacific to achieve energy transition goals.
- Siemens Energy is actively involved in projects supporting energy transition in Singapore, Malaysia, Japan, and Australia.
- Investing in energy efficiency, renewables, and grid infrastructure are key levers for decarbonisation in Asia to lower emissions and boost renewable energy integration.
The article discusses the importance of focusing on energy efficiency and grid modernisation to facilitate Asia's energy transition. Siemens Energy's Vice President, Karna Mohan, highlights the significance of these efforts in optimizing power usage, reducing emissions, and enhancing energy security. Despite the growing demand for energy in Asia driven by economic development, the transition to renewable energy faces challenges like outdated grid infrastructure and funding limitations.
The World Economic Forum and the International Renewable Energy Agency highlight the global energy transition's progress and the need for increased funding in the Asia-Pacific and Southeast Asia regions to achieve net zero emissions goals. The International Energy Agency emphasizes the role of energy efficiency, electrification, and renewables in curbing energy demand growth.
Siemens Energy is actively involved in various projects across Singapore, Malaysia, Japan, and Australia, focusing on grid modernisation, energy efficiency, and renewable integration. Mohan stresses the vital role of energy efficiency as a 'hidden' energy source that complements renewables in the energy mix.
The interview with Mohan underscores energy efficiency as a cost-effective means to reduce emissions, citing examples like the turbine efficiency package in Singapore that significantly cut carbon emissions. Investing in renewables and grid infrastructure is crucial for stable energy transition, ensuring reliability amid changing energy mixes.
The article highlights the importance of the Asean Power Grid in enhancing grid efficiency in Asia Pacific. Forecasted investments in wind, solar power, and storage underline the region's shift towards clean energy sources. Improved collaboration between the public and private sectors is identified as essential to incentivize the transition towards cleaner energy solutions and overcome long-term challenges in energy transition.
Topics
Asia
Renewable Energy
Energy Efficiency
Funding
Decarbonisation
Climate Action
Asia-Pacific
Investments
Grid Modernisation
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