Why are Japanese companies investing in battery energy storage systems?

Sign up here. That is creating surging interest in battery energy storage systems (BESS) to smooth mismatches in supply and demand. Since December 2023, companies have announced investments of at least $2.6 billion in Japanese battery storage projects, according to calculations by Reuters.

Why are wind and solar power prices falling in Asia Pacific?

The market value of wind and solar power in Asia Pacific continues to decline relative to fossil fuels as transmission lines are overloaded. Wind and solar capture prices from wholesale markets are falling; they were 4% lower than those of coal power in 2022 and this gap is predicted to widen to 20% by 2030 as renewables are more widely adopted.

Is coal a cheapest new-build power generation option in Asia?

Coal remains one of Asia’s cheapest new-build power generation options, but the higher carbon output that comes with its growth will set the region’s emissions peak back. CO 2 emissions grew by 568 million tonnes between 2020 and 2022, and are predicted to peak at 7.8 billion tonnes in 2027, before dropping 48% by 2050 as clean options catch up.