“Electro-tech super-levers:” How solar, batteries and EVs are beating out gas and oil across Asia

Ember's report highlights how firmed solar is now cheaper than new gas power capacity in Asia, and electrifying road transport could save $US300 billion in oil imports. Asia's dependence on fossil fuel imports costs $US1.1 trillion annually, despite having vast solar and wind resources. The region's manufacturing dominance in solar panels, batteries, and wind turbines positions it to transition to electrotech and reduce fuel import dependency. Solar plus batteries are already cheaper than LNG in most of Asia, with predictions that they will outcompete LNG everywhere in Asia by 2030. With solar plus battery power addressing the supply side and EVs solving the demand side, Asia could save over $300 billion a year in oil imports and halve its oil imports within twenty years by electrifying its fleet.

https://reneweconomy.com.au/electrotech-superlevers-how-solar-batteries-and-evs-are-beating-out-gas-and-oil-across-asia/