Navigant Research has issued a new report analysing key trends, drivers and barriers to adoption of smart grid and distributed energy resources (DER) technologies within the utility industry across Southeast Asia
According to the study, utilities in Southeast Asia will increase their investments in smart grid and DER technologies by 9.7% between 2018 and 2027.
Revenue generation within the market is expected to increase from $5.5 billion to $13.0 billion during the forecasts period.
Main drivers for increased investments in smart grids and DERs include gird modernisation initiatives and demographic factors like urbanisation, population growth, and consumption patterns
Increased support from governments is propelling smart grid and DER investments in the region.
The number of governments and utilities establishing smart grid roadmaps continue to increase. For instance, countries like Vietnam and Indonesia are beginning their journeys as regional innovators.
An increase in spending is expected in the distributed generation and utility IT and analytics markets.
Investments will also be in technologies such advanced metering infrastructure, distribution and substation automation, analytics and energy storage.
However, challenges remain—particularly with regards to competition, financing, and procurement.
Michael Kelly, research analyst with Navigant Research, said: “In Southeast Asia, utilities span the spectrum of the future grid evolutionary curve.”
For more information about the report, visit FutureGrid: Southeast Asia