News Asia
SINGAPOREAN COMPANIES LEAD THE RENEWABLE ENERGY CHARGE IN ASIA PACIFIC
As the global urgency to decarbonize accelerates, Singapore is emerging as a front runner in the Asia Pacific (APAC) region’s transition to renewable energy. According to a recent survey by ABB’s Energy Industries division, businesses in the city-state are outpacing their regional counterparts in sourcing clean, low-carbon power and investing heavily in energy transition initiatives.
ACCELERATING CLEAN ENERGY ADOPTION
The survey revealed that 30% of Singaporean companies report sourcing more than half of their energy from low-carbon sources — a figure notably higher than the APAC regional average of 25%. This data signals that Singapore’s corporate sector is rapidly integrating renewables into their energy portfolios, positioning the city-state as a leader in regional decarbonization efforts.
ABB highlights that the momentum is set to continue: 82% of Singapore firms expect to increase their renewable energy consumption by more than 20% within the next five years, surpassing the regional average of 77%. This strong pipeline of demand reflects both ambition and strategic planning to meet national sustainability targets and global climate commitments.
CAPITAL COMMITMENTS TO ENERGY TRANSITION
Beyond energy sourcing, Singaporean companies are committing substantial capital to the clean energy transformation. Nearly two-thirds (68%) plan to allocate over 10% of their capital expenditure to energy transition initiatives over the next five years. In the near term, 26% anticipate ramping up their investment in these efforts by more than 50% in the coming year, compared to 19% across the broader APAC region.
These figures underscore a growing recognition among businesses that substantial financial investment is critical to enabling a successful and sustainable energy shift.
HARNESSING TECHNOLOGY FOR A SMARTER GRID
The survey also identified technology as a key enabler in this transition. 78% of Singaporean respondents expressed strong confidence in artificial intelligence (AI) as a vital tool to drive data-driven energy management. AI and related smart grid technologies are expected to accelerate investment, improve operational efficiency, and enhance system interoperability — all essential components of a modernized, decarbonized energy infrastructure.
Moreover, companies are prioritizing automation (35%) and digitalization (34%) as transformational forces, while electrification (31%) is highlighted as a primary lever in achieving net-zero ambitions. Together, these technologies provide the backbone for a resilient, efficient, and sustainable energy ecosystem.
SOLAR POWER TAKES CENTER STAGE
Among renewable sources, solar power currently dominates the energy mix for Singaporean companies, with 75% already utilizing it as a primary renewable energy source — slightly ahead of the APAC average of 73%. Solar’s accessibility, scalability, and rapidly falling costs have made it the cornerstone of Singapore’s clean energy transition.
Looking ahead, Singaporean businesses are optimistic about emerging technologies beyond solar. The survey identifies green hydrogen (46%) and wind power (42%) as the next big game changers in the coming five years. This forward-looking stance points to a diversified renewable energy strategy that could further accelerate decarbonization while fostering innovation.
CHARTING THE PATH FORWARD
Singapore’s leadership in renewable energy within APAC reflects a broader national strategy emphasizing sustainability, innovation, and resilience. With businesses showing increasing commitment to clean energy sourcing, substantial capital investment, and adoption of cutting-edge technologies, the city-state is poised to meet its ambitious climate goals and influence the regional energy landscape. As the world grapples with the climate crisis, Singapore’s example illustrates how public and private sectors can work in tandem to pioneer a clean, prosperous future.
VIETNAM LAUNCHES GROUNDBREAKING AGRI-PV PROJECT TO POWER FARMS AND BOOST INCOMES
Vietnam is pioneering a new approach to renewable energy that could transform its rural economy and accelerate its climate goals. The country recently inaugurated its first dedicated research initiative integrating solar energy with agriculture, known as the Agri-PV project. Officially launched in Hà Nội by the Ministry of Agriculture and Environment (MAE) in partnership with the German Development Cooperation Agency (GIZ), this ambitious project aims to help farmers increase their incomes while advancing Vietnam’s clean energy transition tandem to pioneer a clean, prosperous future.
A NEW MODEL FOR RURAL ENERGY AND AGRICULTURE
At its core, the Agri-PV project explores how solar power generation can coexist with crop cultivation on the same land, creating a symbiotic relationship that maximizes economic and environmental benefits. This integration of photovoltaics (PV) with agricultural activities is an innovative way to optimize land use — a critical consideration for a densely populated country like Vietnam where agricultural land is at a premium. Phạm Ngọc Mậu, Deputy Director General of MAE’s International Cooperation Department, highlighted the initiative’s multifaceted value at the launch event. “Integrating solar energy with farming on the same land can deliver substantial economic gains, contribute to gender equality, and help farmers boost their livelihoods while supporting Vietnam’s energy transition,” he said. The project is the first of its kind in Vietnam targeting rural households and farming communities specifically, marking a new chapter in how the country approaches both agricultural productivity and renewable energy deployment.
RAPID SOLAR GROWTH SETS THE STAGE
Vietnam’s solar power sector has experienced remarkable expansion in recent years, laying a strong foundation for this new venture. Nguyễn Thế Hinh, Deputy Head of the Agriculture Projects Management Board and Director of Agri-PV, detailed this rapid growth: “Installed solar capacity rose from 272 MW in 2019 to over 16 GW by the end of 2024, with projections estimating 22 GW by 2030 and 168 GW by 2050.”
This explosive growth signals strong government and market commitment to renewables, creating momentum for hybrid models like Agri-PV that promise additional socio-economic benefits.
PILOT MODELS TO ILLUMINATE BEST PRACTICES
The Agri-PV project will deploy at least 10 pilot models of solar-powered agricultural systems across different regions over a three-year period from 2025 to 2027. These pilots will test various crop types and solar technologies to gather vital data on how best to balance energy generation with agricultural productivity.
By monitoring land use efficiency, crop yields, and electricity output, the pilots aim to identify scalable models that can be replicated nationwide, offering farmers greater income stability through diversified revenue streams. Beyond technology, the initiative also seeks to improve policy frameworks by engaging 20 key government and sector representatives. The goal is to raise awareness and knowledge of agri-solar’s potential among 65% of these stakeholders, paving the way for stronger institutional support.
BRIDGING POLICY AND TECHNICAL GAPS
While the promise of agri-solar is significant, Vietnam faces notable challenges. National policies that explicitly support the integration of solar and agriculture remain absent, and technical expertise in managing these hybrid systems is limited. Research efforts have been fragmented, pilot data scarce, and no consolidated national database exists to guide broader adoption.
Farmers and local officials also grapple with the complexity of operating dual-use land systems, which require specialized knowledge in both farming and energy management. Funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented through GIZ, the project will address these gaps by assessing the country’s solar potential in agriculture, developing comprehensive strategies, offering advisory services, and mobilizing resources. This aligns with Vietnam’s ambitious commitments to a just energy transition, achieving net-zero emissions by 2050, and meeting its Nationally Determined Contribution (NDC 3.0) climate targets.
INTERNATIONAL EXPERIENCE OFFERS VALUABLE LESSONS
GIZ Vietnam’s Country Director, Dr. Michaela Baur, emphasized the value of learning from international agri-solar pilots. “Countries like Germany, Thailand, India, and Brazil have implemented successful agri-solar models, generating valuable lessons for emerging economies,” she said. “These exchanges of policy and practice are exactly what this project aims to enable.”
Such global cooperation will help Vietnam avoid common pitfalls and accelerate the deployment of best practices tailored to local conditions, making the energy transition more effective and equitable.
OPTIMIZING SYNERGY FOR MAXIMUM IMPACT
Sonja Esche, Head of Agriculture and Climate at GIZ Vietnam, framed agri-solar not just as a technology fix, but as a strategic approach to sustainable development. “Agri-solar is not simply about placing solar panels on fields. It’s about creating synergy between energy production and agriculture, optimizing both for maximum benefits,” she said.
With thoughtful design, farmers can enjoy steady incomes from electricity sales alongside crop production, while land use efficiency improves. This dual benefit is particularly important in Vietnam, where agricultural land scarcity and climate vulnerability pose ongoing challenges.
A MODEL FOR SUSTAINABLE RURAL DEVELOPMENT
The project’s broader ambitions go beyond energy and farming. By supporting rural livelihoods, promoting gender equality, and fostering climate resilience, Agri-PV represents a model for holistic rural development.
Early successes could spur wider adoption across the Asia Pacific region, where many countries face similar challenges of balancing energy demand, food security, and sustainable land management.
LOOKING AHEAD
As Vietnam embarks on this pioneering path, the Agri-PV project stands at the intersection of innovation, policy, and practice. Over the coming years, it will generate critical insights, build local capacity, and catalyze investments needed to mainstream agri-solar solutions.
If successful, it could redefine the future of rural energy and agriculture in Vietnam—empowering farmers, reducing carbon emissions, and helping the nation meet its ambitious clean energy goals.
ASIA-PACIFIC’S SMART METER REVOLUTION: APPROACHING A BILLION INSTALLED DEVICES
The Asia-Pacific region is on the cusp of a transformative milestone in its energy sector. The smart electricity metering market is inching ever closer to a historic landmark of 1 billion installed smart meters — devices that are key to modernizing power grids, enhancing energy efficiency, and empowering consumers. According to the latest research from Berg Insight, an IoT analyst firm, the installed base of smart electricity meters across Asia-Pacific is set to grow from 818.6 million units in 2023 to nearly 1.2 billion units by 2029, growing at a compound annual growth rate (CAGR) of 6.4%. At this pace, the region will cross the 1 billion device threshold by mid-2026.
LEADING THE CHARGE: EAST ASIA’S SMART METER PIONEERS
The smart metering transformation is being led by East Asia—particularly China, Japan, South Korea, and Taiwan — which together represent the most mature markets in the region. By the end of 2023, these countries accounted for more than 90% of the installed smart meter base in Asia-Pacific, driven by ambitious nationwide rollout programs and significant investments.
China, the largest market in the region, has effectively completed its rollout of smart meters. The country’s State Grid, responsible for the vast majority of installations, now focuses on replacing aging first-generation meters with more advanced models, due to the relatively short life cycle of meters in the Chinese market. This replacement cycle is expected to stabilize at around 65-70 million smart meters tendered annually, signaling a new phase of sustained demand.
Japan is in the final stages of completing its own national rollout, while South Korea’s deployment has faced several delays. The national utility, KEPCO, aims to finalize its smart meter program by the end of 2024, ensuring the country’s grid modernization efforts remain on track.
Taiwan, by contrast, is the least mature smart metering market in East Asia, with an installed base of just 2.8 million smart meters. However, its growth is steady, bolstered by reliable state-owned utilities that consistently meet their deployment targets.
THE SURGE IN SOUTH AND SOUTHEAST ASIA: EMERGING MARKETS TAKE OFF
While East Asia leads in maturity, the fastest growth rates for smart meter deployments are occurring in South and Southeast Asia. A wave of government-backed initiatives is propelling smart metering projects across these emerging markets, unlocking tremendous potential for grid modernization and energy management.
India stands out as the most significant growth engine in the region. In the early 2020s, the Indian government launched a massive funding scheme with the ambitious target of installing 250 million smart prepayment meters nationwide.
This program is part of a broader effort to modernize India’s electricity grid, improve billing accuracy, reduce theft, and enhance energy efficiency.
According to Berg Insight’s Mattias Carlsson, “India is already reaping the benefits from the modernization of its electricity grid and has, in the last two years, managed to reduce overall aggregate and technical losses significantly.” These losses have long been a challenge for the Indian power sector, and the rollout of smart meters is proving instrumental in addressing them.
Similarly, Bangladesh is witnessing a surge in large-scale smart electricity metering installations, aligned with government goals to introduce smart prepayment metering.
This transition is expected to help improve revenue collection, promote energy conservation, and enhance grid stability in the country.
Positive momentum is also evident in other Southeast Asian markets such as Thailand, the Philippines, Indonesia, and Taiwan. Indonesia, while still in the early stages of smart meter adoption, represents a vast opportunity with a rapidly growing economy and an impressive electricity user base nearing 86 million customers. Berg Insight notes that Indonesia’s market potential is substantial, setting the stage for accelerated smart meter deployment in the coming years.
PENETRATION AND FUTURE OUTLOOK TOWARDS AN 80% SMART METERED ASIA-PACIFIC
The penetration rate of smart electricity meters in Asia-Pacific is projected to rise from 61% in 2023 to 80% by 2029. This means that by the end of the decade, four out of every five electricity consumers in the region will be connected to smart meters, a dramatic leap that promises to reshape how energy is consumed, billed, and managed. Cumulative shipments of smart meters across Asia-Pacific are forecast to reach 872.7 million units between 2024 and 2029, underscoring the scale of investment and deployment activity underway.
The key driver of this growth, as emphasized by Mattias Carlsson, will be the replacement of aging first-generation smart meters. As countries complete initial rollouts, the focus will shift to upgrading legacy meters with newer, more capable models that support enhanced functionalities, including real-time data analytics, remote disconnections, and integration with renewable energy sources.
SMART METERING: UNLOCKING A SMARTER GRID AND A GREENER FUTURE
The transition to smart meters is about much more than simply upgrading hardware. It represents a fundamental transformation in the electricity ecosystem. By providing utilities with granular consumption data, smart meters enable more accurate billing, reduce energy theft, and support demand response programs that can flatten peak loads and reduce strain on the grid.
For consumers, smart meters facilitate better energy management by offering detailed insights into usage patterns, empowering households and businesses to adjust behaviors and save on energy costs.
Moreover, smart meters are critical enablers for integrating distributed energy resources like rooftop solar, electric vehicles, and battery storage systems. They provide the communication infrastructure necessary for two-way energy flows and dynamic pricing models, which will be essential as Asia-Pacific embraces cleaner, decentralized energy systems.
CHALLENGES AND THE ROAD AHEAD
Despite strong momentum, challenges remain. Infrastructure limitations, regulatory hurdles, and the need for capacity-building continue to pose obstacles, especially in emerging markets. The success of smart metering programs will depend on ongoing government support, utility readiness, and consumer acceptance. Nonetheless, the trajectory is clear: Asia-Pacific is fast evolving into one of the world’s most advanced regions for smart metering. With nearly a billion devices expected to be installed by 2026, the region is well-positioned to lead the global energy transition, making power grids more efficient, resilient, and sustainable.