A new study conducted by Northeast Group forecasts countries in Southeast Asia will invest $9.8 billion in smart grid infrastructure between 2018 and 2027.
Factors driving investments include:
“- A handful of leading countries that have made smart grid investment a key pillar of their energy futures.
“- An increase in the development and implementation of regulations that either encourage or mandate smart grid development
“- Efforts to improve energy efficiency and clean energy portfolios to meet growing energy demand
The smart grid infrastructure market is expected to result in high levels of microgrids and battery storage market growths. This will be 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.
However, the countries in the region do not have records of high non-technical losses or high levels of electricity consumption as in other countries adopting smart grids.
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.
“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.”
Several prominent international vendors are already active in the region, while a handful of local vendors have emerged as key suppliers as well.
Northeast Group’s 199-page study Southeast Asia Smart Grid: Market Forecast (2018-2027) Volume IV is currently available at: www.northeast-group.com
This article was first published by Smart Energy International and was reprinted with permission.