Friday, April 17, 2015

Asian Renewable Energy (China, India Japan, South Korea)

Led by China and India Asia is an economic powerhouse that is expected to continue to experience major growth. Here are four Asian nations (China, India, Japan and South Korea) on the forefront of the renewable energy expansion around the world.

China

China is at the leading edge of renewable energy growth. The nation leads the world in installed renewable energy capacity (both including and excluding hydro). Currently renewables provide more than a quarter of China’s electricity generating capacity and that number is expected to reach 50 percent by 2050. The government has previously set installed generating capacity targets for 2010 and now 2020. The three main sources of renewable energy for China are hydropower, wind and solar.

Renewables will benefit from China's effort to reduce their consumption of smog causing fossil fuels. China recently signed an ambitious greenhouse gas reduction agreement with the US that will encourage further growth in domestic renewable energy. In addition to what they have already accomplished the nation has enormous potential for the development of renewable energy.

India

Indian Prime Minister Modi is pursuing ambitious renewable energy expansion (by 2022 100 gigawatts of grid-connected solar energy and 60 GW of wind energy). India already ranks fifth in the world in wind energy. A January 2015 agreement between India and the US will see increased cooperation between the two nations on renewable energy. India has great potential and according to one report the nation is capable of meeting all of its energy needs with renewables.

Japan

A confluence of factors are pushing Japan towards renewable energy not the least of which is the 2011 tsunami that caused the nuclear power plant disaster. At least one report claims that 100 percent renewable energy is feasibility in Japan.

South Korea

South Korea aims to go from being a huge importer of fossil fuels to a massive exporter of renewable energy. As country without primary energy resources South Korea is one of the five biggest importers of fossil fuel in the world. The goal of increasing domestic renewable energy production can help the nation to reduce its reliance on fossil fuels. This is a about energy security and greenhouse gas reductions. According to a 2012 report the nation's renewable energy capacity grew by 88 percent between 2005 and 2010. Driven by wind and solar South Korea aims to be one of the five best users of renewable energies. To advance renewables the government has supported tariff and tax exemptions.

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