Shifting to alternative energy, KPMG in Thailand’s latest industry focus publication for Industrial Markets (IM) sector, offers insights into Thailand’s energy consumption and its projection of suitable resources that will meet increasing demand.
With factors shaping Thailand’s energy landscape — technological innovation, a favorable environmental policy, and the government’s commitment to strengthen environmental sustainability — the country is moving toward a more sustainable prospect of energy consumption. The Alternative Energy and Development Plan (AEDP) by the Department of Alternative Energy Development and Efficiency has been put in place in order to leverage and develop the sector. “The future of alternative energy has high potential,” said Tidarat Chimluang, Partner, Head of Industrial Markets, KPMG in Thailand.
Furthermore, the power sector’s heavy reliance on fossil fuel source will shift to alternative energy. The target, set in AEDP2018, aims for a 32.9% of electricity consumption from alternative energy, mainly solar energy, within 2037. Also, the alternative source of heat, particularly biomass, is expected to increase due to strong government support. While in the transport sector, future energy consumption is expected to shift from natural fuels to electricity.
It is important that the government and policy makers implement sustainable energy policies and infrastructure through subsidies and infrastructure development in order to make the most of Thailand’s diversifying energy generation. “Organizations in the energy industry are focusing on extensive capital investment, whether diversification or expanding renewable energy generation,” said Natthaphong Tantichattanon, Partner, Audit, KPMG in Thailand.
Read our industry focus publication Shifting to alternative energy for trends and insights on energy transformation that will help you stay informed and ready to adapt to the forthcoming changes.