Southeast Asia is blessed with ocean space, largely comprising islands or ocean-bound states – known either as Mainland or Maritime Southeast Asia – in the Indian and Pacific oceans. The region is increasingly interesting to academics, who consider how renewable power techniques and technologies can be utilized for the more than 660 million people living there. Among them are ocean thermal energy, salinity gradient technologies, wave and tidal power generation, collectively known as ocean renewable energy (ORE).
Oceans contain vast renewable energy potential”, according to the International Renewable Energy Agency (IRENA), “theoretically equivalent to more than double the world’s current electricity demand.
Of all the renewable power generation sources, ocean-based energy is arguably the least advanced, with technologies largely not commercially available today, at least not on an industrial scale. In a late 2021 market report, the International Energy Agency (IEA) said globally policies promoting research and development are needed to achieve further cost reductions and large-scale development.
Globally some countries are managing to address many of these concerns, at least enough to make a success of some projects.
Ocean energy alone has the potential to meet more than twice the current global electricity demand.
Many within the Association of Southeast Asian Nations (ASEAN) have committed to reducing their carbon emissions; however, they face challenges unique to their geographies, economies and even socio-political will. By the middle of this decade ASEAN aims to meet 23% of its primary energy demands via renewable sources, an ambition it is well on the way to achieving. But demand is outpacing supply and looks set to do so for the foreseeable future.
Both in Southeast Asia and around the world as countries look to enhance their sustainable energy portfolios as the impact of climate change and growing energy insecurity become ever more apparent. ASEAN members, particularly Indonesia, Singapore, and the Philippines, are taking a much more considered approach to green energy than ever before. All are positively encouraging project investments – both technological and infrastructure – by introducing new laws, funding and other financial incentives and the creation of attractive foreign investment environments to promote investment.
In August 2022 the Philippines Department of Energy opened the door to new renewable energy projects with 100% foreign investment, something that was initially prohibited by its 1987 Constitution. Speaking at a committee meeting, Energy Secretary Raphael Lotilla said the country needed to move towards indigenous sources of power to secure energy and not be at the mercy of volatile markets.
Given the undeveloped nature of the marine, specifically tidal, renewable energy, the region has the potential to be a global powerhouse.