How Asian Countries Are Leading the Way in Renewable Energy Investments

Country Focus: Pioneers of Change

China Renewable Energy Investment

China is the largest investor in renewable energy globally, accounting for more than half of global solar capacity. In 2023 alone, it added 216 GW of new solar and wind capacity. The country’s “carbon neutrality by 2060” goal has accelerated funding for clean energy infrastructure, including the Tengger Desert Solar Park and massive offshore wind farms.

“China has managed to reduce solar energy costs to under $0.03 per kilowatt-hour in some projects, which is among the lowest in the world,” notes Wei Zhang, Renewable Project Coordinator at GreenFuture Asia.

India Solar Energy Financing

India’s ambitious target of 500 GW of renewable capacity by 2030 is driving a solar revolution. In 2023, the country attracted $18.7 billion in renewable energy investments, a 14 percent increase from the previous year. Government subsidies, low-interest loans and international partnerships have made Indian solar financing trends one of the fastest-growing segments in the energy sector.

Japan Green Energy Projects Asia

After the Fukushima disaster, Japan shifted focus towards renewable energy and innovation. Offshore wind and hydrogen fuel projects have become priorities, with the government targeting 45 GW of offshore wind capacity by 2040. Japan’s feed-in tariff program continues to encourage community-based solar systems.

Also Read: Solaren Renewable Energy Solutions: Setting the Benchmark for Premium Solar Installations & Future-Ready Energy in the Philippines