AUGUSTASIA BUSINESS OUTLOOK9ASIA-PACIFIC RENEWABLE ENERGY OUTLOOK FOR A SUSTAINABLE FUTUREBy Avinash Barik, ABO StaffEnergy use in Asia-Pacific will grow dramatically over the next decade and indeed, for the next hundred years. As a whole, the Asia-Pacific region which is expected to use 133 percent more commercial energy in 2010 than it did in 1995. In economically dynamic East Asia, commercial energy demand will double & electricity-generating capacity is expected to nearly quadruple.The fundamental component of renewable energy, which is abundant and well-established, is free. Eight nations own 81 percent of the world's proven reserves of crude oil, six countries hold 70 percent of the world's proven stocks of natural gas, and eight countries hold 89 percent of the world's proven deposits of coal. Over half of the commercial energy used in Asia, Africa, and Latin America is imported. The majority of these nations purchase energy at high prices while exporting crops at low prices, which reduces their ability to generate foreign cash. The fact that power generation in these nations is always rising makes this problem worse. Additionally, the global population is growing at a rate of 1.3 to 3.2 percent annually, doubling every 60 years. Therefore, in the year 2060, no doubt the expected population will be not less than 12 billion. While there has been good progress in installing renewable energy systems in recent years, the base is relatively small and the industry is still young. But the industry's strength is that it remains buoyant and positive. There is still much to do if IEA countries are to effectively increase the share of renewable energy in total energy supplies and promote renewable energy worldwide. There are several issues which will affect the rate of market uptake of renewable energy sources.A-PAC Countries & their Ravenous Appetite for EnergyThe explosive hunger for energy is prompting structural changes in Asian economies, primarily a move toward greater reliance on domestic, regional and global energy and financial markets to meet energy demand. The transition towards marketization will present governments with new policy imperatives and options. Given the increasing level of globalization, the most powerful policy instruments those which shape market incentives will be those undertaken collectively. In a different scenario, thoughtful decisions in the energy sector about energy supply sources, technology, infrastructure investment, pricing and IMPRESSIONS
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