Black & Veatch’s first-ever formal report dedicated to the Electric Industry in Asia explores how we are facing into uncertain times in 2021. The industry is challenged by concerns over financial constraints and operational disruption from a global pandemic while buoyed by opportunities to integrate more renewable energy and optimism around emerging sustainable technologies from battery energy storage to hydrogen power.

Economic realities will hold court, however, and have a significant influence on future direction over the next investment cycle. Over the short term, we expect more investment diverting to existing assets compared to new assets, and renewables look likely to receive investment boosts over more established technology categories. Indeed, the lowering cost of renewables emerges as its biggest driver for deployment, pointing to its growing regional importance, while most respondents are confident about the important role of gas on electric grids in Asia beyond 2035.

Much progress has been made closing the electrification gap over the last twenty years throughout Asia. As we look to 2021, many challenges lie ahead as we work through a period of unprecedented transformation.