Ambitious solar and storage targets to save ''billions'' for Thailand
The increased solar and energy storage targets could sustain the forecasted electricity demand increase from data centres and EV charging in the coming years.
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There are currently few grid-scale energy storage projects in Thailand, although the situation is likely to change. In furtherance of its commitments under the Paris Agreement, the Thai government has enacted policies which envisage renewable energy accounting for the majority of grid capacity and output by 2040.
Energy storage is in its infancy in Thailand, and new business models are already emerging. As the regulatory framework adapts to accommodate new players in the market, we expect to see greater penetration in this area. Notes Energy Policy and Planning Office, Ministry of Energy, electricity statistics
The latter will be implemented via a tax-incentive mechanism. Thailand is introducing a number of supportive measures, such as the Utility Green Tariff (UGT) and the Direct Power Purchase Agreement (Direct PPA), to enhance the readiness and competitiveness of domestic PV-related stakeholders and to explore new opportunities in global markets.
The increased solar and energy storage targets could sustain the forecasted electricity demand increase from data centres and EV charging in the coming years.
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