Is energy storage a viable business model in Thailand?

The Provincial Electricity Authority (PEA) of Thailand will explore the feasibility of energy storage business models in collaboration with Nuovo Plus, a subsidiary of state-owned oil and gas company PTT Group.

Why is energy storage important in Thailand?

Bangkok, Thailand, May 15th, 2023 /PRNewswire/ -- With Thailand devoting itself to reducing the carbon emission to “Zero”,renewable energy is becomingincreasingly vital in the country’s energy structure. Undoubtedly, energy storage continues to play an essential part in solving intermittency and volatility.

What kind of energy does Thailand use?

Thailand heavily relies on fossil fuels, with natural gas and coal accounting for the majority of its power generation. Renewable energy, including biofuels and waste-to-energy, represents about 10% of the mix, with solar and wind at 4%.

Can Bess create business opportunities in Thailand?

Watcharin Boonyarit, director of solar energy development at the Department of Alternative Energy Development and Efficiency, noted the potential for BESS to create business opportunities as Thailand transitions to renewable power sources. “We should not only import BESS but also consider new investment projects in this battery business.”

What is Thailand's 2024 Power Development Plan?

Thailand’s 2024 power development plan (PDP) aims to increase renewable energy use, highlighting the importance of BESS alongside solar panels and wind turbines. This could create new business opportunities for entrepreneurs if prices decrease or new technologies emerge for stationary batteries.

Could a sodium-ion battery be a new business opportunity in Thailand?

The Federation of Thai Industries’ Renewable Energy Industry Club sees potential in sodium-ion battery (SIB) production as an alternative to lithium-ion batteries. SIBs, made from rock salt, could offer a new business opportunity given Thailand’s abundant rock salt reserves.