Trends and Prospects for the Renewable Energy Sector in the EAS Region

The rising prices of fossil fuels and deteriorating environment in the world have made renewable energy the brightest business in the energy sector. In fact, as the world’s fossil fuel resources are limited and gradually depleting, renewable energy could be the main source of energy in the future. Thus, developments in the renewable energy sector could have important implications for the world. In particular, the East Asia Summit (EAS) countries as a group are net energy importers and hence have a keen interest in renewable energy development. This is not only related to energy consumption in the region but also linked with the goal of promoting energy market integration within the EAS group. The objectives of this study are twofold, namely, a) to present a review of the trends in the renewable energy sector and b) to shed light on the prospects of development and growth in this sector within the EAS area. Specifically, this project will review the status and trends of renewable energy development among the EAS members. It will provide a comparative perspective in renewable energy policy and business development in the EAS region. It will explore the prospects of future development and growth in renewable energy and the role of renewable energy in energy market integration within the EAS energy sector.