Many are investing billions of dollars on smart grid, storage, and renewable energy in the Asia Pacific area. Transmission and distribution investments are predicted to climb to $126 billion in 2016, with the majority of the investment – $78 billion – going to China, according to Utility Dive.
In 2016, solar power is expected to be the fastest growing power generation technology in Asia. However, coal is predicted to remain the main energy source for the region, Frost & Sullivan reports say.
At the end of 2015, additions to the solar power capacity in the Asia Pacific will surpass 25 GW. This capacity will increase to 33 GW in the coming year, with an annual growth rate of 28.9%, according to Utility Dive.
These predictions are a result of the Paris climate talks. Growth in the Asia Pacific region is expected to boom as key players in business have already started clean energy coalitions, driving investors toward low emissions economic growth.
Read the full article here.