Economic Outlook for Southeast Asia, China and India 2017
Addressing Energy Challenges
The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region. The 2017 edition of the Outlook comprises four main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the near-term and medium-term economic outlooks, as well as macroeconomic and regional integration challenges in the region. The second part discusses the recent progress made in key aspects of regional integration. The third part presents this edition's special focus: addressing energy challenges and renewable energy development in particular. The fourth part includes structural policy country notes offering specific recommendations.
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Developing renewable energyin Emerging Asia
OECD Development Centre
While Emerging Asia is blessed with vast potential for renewable energy, additional efforts are needed for the countries to achieve their respective targets for renewable energy. Economic support for renewable energy has in many cases proven too low to provide cost recovery for project developers, which partly reflects the challenge of securing sufficient funding. The current subsidies for renewable energy should be considered as temporary measures to accelerate the declining cost of these technologies, in order for them to become competitive with conventional energy sources (i.e. reach grid parity). Hence, the policy mechanisms for renewable energy should be designed to incentivise cost-efficiency and deployment effectiveness at the same time. Obstacles such as grid issues, distorted energy pricing and administrative hurdles must also be overcome in order to maximise the potential of renewables. In this context, renewable energy could play a significant role in supplying the rapidly growing energy demand in Emerging Asia while limiting greenhouse gas emissions from the energy sector.
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