A new Wood Mackenzie report suggests that costs for front-of-the-meter battery storage systems in the Asia-Pacific region could fall by 30% by 2025. The declining costs are already having a palpable impact, as 2021 has opened with a slew of large-scale battery project announcements.
The cost of solar power generation in India has fallen to half the level seen in many other markets in the region due to extensive solar resource, market scale and competition.
Metka Egn has announced the acquisition of six projects in the states of New South Wales and Queensland.
Renewable energy investment in the Asia-Pacific region, excluding China, will overtake spending on oil and gas exploration and production by 2020, finds Norwegian consultancy Rystad Energy. And Australia is set to emerge as one of the leading investment destinations.
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