Key Points

In 2022, ASEAN member states have strengthened their national energy policies to accelerate energy transition and meet emission reduction and renewable energy share targets. Influenced by the spread of renewable energy into other sectors, green economic is in the rise. Solar is still spearheading the growth of renewables in the region along with hydropower, while the focus has been branched to the development of biomass. Considering the financial power of the member states, ASEAN countries have encouraged collaborations and green investments as means to fund future renewable energy projects.