The report states that these investments have three key drivers: A handful of leading countries have made the smart grid a key pillar of their energy futures; an increase in the development and implementation of regulations that encourage or mandate smart grid development; and efforts to improve energy efficiency and clean energy portfolios to meet growing energy demand.
Ben Gardner, president of Northeast Group, said: “Southeast Asia has lagged a bit behind expectations as a region, but some key changes have come about only in the last year or two and things are finally starting to take shape.”
The report predicts that this smart grid infrastructure boost will result in high levels of microgrid and battery storage growths, driven by goals to increase access to electricity for remote and island communities. The largest markets are expected to be Indonesia, Malaysia, Thailand, Singapore, the Philippines and Vietnam.
Gardner added: “Singapore and Malaysia are clear leaders in the region, already starting national smart meter rollouts. Thailand has also demonstrated a real commitment to smart grid infrastructure buildout, with long-standing plans finally underway, which should help to jumpstart the rest of the region.”
Smart grid technology is a key focus of the conference sessions at POWER-GEN Asia this month. To find out more click here.
This article first appeared in Smart Energy International.