Exploring Renewable Energy Opportunities in Select Southeast Asian Countries: A Geospatial Analysis of the Levelized Cost of Energy of Utility-Scale Wind and Solar Photovoltaics
The costs of renewable energy-based electricity generation have fallen precipitously in recent years to levels that are increasingly competitive with traditional generation such as fossil fuel-based generation. As these costs become increasingly competitive, private developers, policymakers, and energy system planners are searching for opportunities to harness high-quality renewable energy resources. Developing economies are setting ambitious targets and exploring how cost-effective, grid-connected renewable energy options can help power economic growth and meet growing electricity demands. This includes the member states of the Association of Southeast Asian Nations (ASEAN) that are determined to reach a target of 23% of renewable energy in the region's total primary energy supply by 2025. A critical gap to identifying opportunities and scaling up renewable energy is the lack of quality data and analyses to support decisions on the investment and deployment of renewables - including wind and solar photovoltaics (PV). This work supports decision making by providing high-quality data and spatial analysis of the cost of utility-scale wind and solar PV generation in select countries of Southeast Asia - specifically, the ASEAN member states. Generation costs are expressed as the levelized cost of energy (LCOE) - a commonly used metric that represents the net present value of the unit cost of electricity during the lifetime of a particular electricity generation technology. This is the first spatial estimate of LCOE for these technologies within the ASEAN member states - providing insights into the roles that renewable energy resource quality and other factors may play in generation costs.
- Research Organization:
- National Renewable Energy Laboratory (NREL), Golden, CO (United States)
- Sponsoring Organization:
- United States Agency for International Development (USAID)
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1527336
- Report Number(s):
- NREL/TP-7A40-71814; MainId:20963; UUID:b55d4e78-c474-e811-9c14-ac162d87dfe5; MainAdminID:9439
- Country of Publication:
- United States
- Language:
- English
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