IEEFA – The Asia Pacific renewable supply chain opportunity

The Asia Pacific region has a $1.1 trillion opportunity in solar PV and offshore wind supply chain investments by 2050, with a majority of the investment staying within the countries undertaking the projects. Solar PV projects offer a current opportunity with $346 billion potential localized inputs out of $395 billion total investment. Offshore wind also presents a growth sector with $425 billion localization potential out of $621 billion total investment. Governments need to focus on balance of systems for solar and offshore wind, which represent a significant portion of total project spend. The region has vast untapped renewable energy potential which, if harnessed, could transform the energy economy and drive development of regional and domestic supply chains over the next 25 years. The report focuses on the opportunities in solar PV and offshore wind projects, with solar PV offering immediate benefits in terms of low electricity generation costs and the potential for decarbonizing grids.