Asia-Pacific Power & Energy: What are the Emerging Growth Avenues and Smart Solutions?
The net-zero energy transition, innovative business models, and diversification create new growth opportunities for both traditional and non-traditional participants
After a challenging 2020, 2021 was a defining year for the energy industry in many ways. The world witnessed rising concerns about climate change and the need for sustainable solutions and processes. Following the latest COP summit, more than 100 countries pledged their commitment to net-zero emissions by 2050. In Asia-Pacific, Japan, Australia, and South Korea have aggressive targets, while Southeast Asian countries such as Malaysia and Indonesia have pledged to limit the global temperature rise to a 1.5 degrees Celsius threshold.
Despite the COVID-19 pandemic, stakeholders across the energy value chain exhibited resilience by developing innovative business models and sustainable practices to boost sales. This resulted in record growth for the renewables industry in 2021. In 2022, despite supply chain constraints, the installation of renewable energy sources will gain momentum as the demand for clean energy solutions accelerates in Asia-Pacific.
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