Asia, led by China, is at the forefront of the global movement towards sustainable development, heavily investing in green technologies. The region accounts for approximately 70% of the $470bn global investment in clean energy technologies necessary to meet the 2030 Net Zero Emission Scenario demands
Governments in Asia have played a key role to promote green technology through policies, subsidies, and tax incentives. China, Japan, and South Korea, in particular, have recognized the potential of solar energy and battery storage early on, directing substantial investment towards these technologies.
China has established a dominant position in the manufacturing of solar PV, wind power, and EV batteries, holding 80%, 60% and 70% of the global manufacturing capacity respectively. The country’s aggressive cost reduction strategies in solar panel production with renewable portfolio standards and feed-in tariffs have significantly undercut prices globally, contributing to its dominance and raising concerns among international competitors.
Besides traditional green technologies, Asian nations are focusing on emerging sectors such as green steel, biofuels, and green hydrogen to maintain their global leadership. China’s investment in sodium-ion batteries and Japan’s green steel & hydrogen strategy highlight the region’s commitment to diversifying its green technology portfolio.
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