PVTIME – A new report from Ember Climate says that Thailand could save up to $1.8 billion on power generation by adding 32GW of solar power and 15GWh of battery storage to the power targets it already has. The analysis, which looks at how Thailand can make the most of its money while still being kind to the environment, also says the country should aim higher when it comes to renewable energy and highlights that more ambitious targets for solar power and storage are needed to meet the increasing electricity needs of data centres and electric vehicle charging in the coming years.
According to the 2024 draft of the Revised Power Development Plan (RPDP), Thailand plans to increase its renewable energy capacity by 64GW by 2037. This would mean that renewable energy accounts for 51% of the country’s total power generation. This would be a big change for a country that has always used fossil fuels, especially natural gas, to make electricity. Natural gas is becoming a more important part of Thailand’s energy mix. In 2024, it made up more than two-thirds of the country’s domestic power generation. The current RPDP also needs a lot of new money for power generation, which is estimated at $153 billion. This means that Thailand is at risk of problems from importing natural gas from other countries. In 2024, 40% of Thailand’s gas use came from imports, which is up from just over 20% in 2015, and this is expected to continue.
Ember’s report says that Thailand should increase its targets for solar energy and storage. It says that there should be an 89% increase in new solar capacity and a 60% increase in new storage capacity compared to the current RPDP targets. It says this is the best way to save money. New energy projects would need $15 billion more than the RPDP’s first plan, but using solar and storage instead of gas would save $1.8 billion. The report also says that we should use 11% less natural gas than the RPDP scenario, which would save $16 billion on fuel. If they did this, and if they invested more in solar energy and less in imported gas, Thailand’s energy sector would save money and its power grid would become stronger.
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