<
https://reneweconomy.com.au/electrotech-superlevers-how-solar-batteries-and-evs-are-beating-out-gas-and-oil-across-asia/>
"A new report from energy think tank Ember has shown how firmed solar now
undercuts most of the new gas power capacity Asia is planning to build and that
electrifying the region’s road transport could save more than $US300 billion a
year in oil imports.
The report,
Electric Asia, describes these two so-called “superlevers” as
Asia’s cheapest option for growth, but also the region’s only path to keep
growing without deepening a region-wide dependence on fossil fuel imports,
which already costs $US1.1 trillion each year.
Currently, Asia boasts only 4 per cent of the world’s oil and gas reserves,
even though the region simultaneously accounts for 75 per cent of the
electrotech machinery that is transforming how the world uses electricity:
solar and wind generators; electrification – from vehicles to heat pumps, and;
connections from batteries to digitalisation.
According to Ember, Asia manufactures over 95 per cent of solar panels, 85 per
cent of batteries and 75 per cent of wind turbines. At the same time, Asia has
enough solar and wind resources to supply at least 14-times its total energy
demand and 100 times its oil and gas production.
Moreover, Asia has driven three-quarters of the growth in global electricity
since the turn of the century, with GDP and electricity demand rising in
lockstep and greater electrification being achieved at lower incomes per
capita.
As the world’s electrotech factory, Asia is well placed to replace the fuel
resources it lacks with the electrotech necessary to wean itself off its fuel
import dependency.
This has never been more apparent than in the last few years when Asia’s
supplies of fossil fuels have now twice been hit by massive shocks and
disruptions – first in 2022 when Russia cut off Europe and Europe subsequently
outbid Asia for gas, and now with the closure of the Strait of Hormuz, through
which nearly half of Asia’s oil travels.
“Asia has been highly dependent on the old stability of the Pax Americana,
which is being challenged by one oil shock after another, and the closing of
Hormuz is a major catalyst for a change,” said Kingsmill Bond, Ember director.
“The economics of electrotech have been transformed in the last five years. The
cost of firm electricity from solar backed up by batteries has fallen below
that of fossil fuels for almost all of Asia. What was competitive before is
irresistible now.”
Ember’s report shows how Asia can decouple itself from such dependency by
utilising the technology it creates."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
