Exploring Renewable Energy Opportunities in Select Southeast Asian Countries: A Geospatial Analysis of the Levelized Cost of Energy of Utility-Scale Wind and Solar Photovoltaics
The costs of renewable energy-based electricity generation have fallen in recent years to levels that are increasingly competitive with traditional generation. As these costs become increasingly competitive, private developers, policymakers, and energy system planners are searching for opportunities to harness high-quality renewable energy resources.
This report supports decision making by providing high-quality data and spatial analysis of the cost of utility-scale wind and solar PV generation in select countries of Southeast Asia— specifically, the ASEAN member states. Generation costs are expressed as the levelized cost of energy (LCOE)—a commonly used metric that represents the net present value of the unit cost of electricity during the lifetime of an electricity generation technology. This is the first spatial estimate of LCOE for these technologies within the ASEAN member states—providing insights into the roles that renewable energy resource quality and other factors may play in generation costs. This analysis is a product of the USAID-NREL Partnership in collaboration with the USAID Clean Power Asia program and the ASEAN Centre for Energy.