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MANILA – Southeast Asian countries could benefit from increasing their renewable energy manufacturing capacity, a new study showed on Thursday.
The study, released on the sidelines of the ASEAN Finance Ministers and Central Bank Governors Meeting led by the Asian Development Bank, showed that the growing industries of solar photovoltaic (PV) cells, batteries and electric two-wheelers in Southeast Asia represent an estimated $90 billion for a $100 billion revenue opportunity by 2030.
It also has the potential to create 6 million renewable energy jobs by 2050.
The report says that governments should stimulate domestic demand for renewable energy, ensure cost competitiveness, improve the ease of doing business and boost access to export markets to support the clean energy sector.
“The battle against climate change will be won or lost in Asia and the Pacific. A decisive front in that battle is Southeast Asia,” said ADB Sector Group Director General and head of the Group, Ramesh Subramaniam.
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