Power Investment Is Starting to Shift
Ember says firmed solar can already beat LNG on price at the majority of Asian sites where new gas capacity is planned. It also says round-the-clock solar-plus-battery power is now below $100/MWh in many Asian markets.
The report projects a faster shift ahead. Ember forecasts that solar-plus-battery power will outcompete LNG across Asia by 2030. That would mark a major change in how utilities assess new capacity, especially where fuel import exposure remains high.
Transport Electrification Could Reshape Balances
Ember says Asia is heavily dependent on imported oil for road transport. It also says this dependence costs the region more than $300 billion a year in oil imports, according to Ember’s reported findings.
On that basis, the group argues electrifying fleets is not only an energy story. It is also a balance-of-payments story. Ember’s report points to substantial potential annual savings by 2035 and 2050 if fleet electrification advances.
Daan Walter, a lead author at Ember, described electric vehicles as a strategic necessity, arguing that few measures do more for Asia’s balance of payments and energy security.
Ember also noted that Asia holds a small share of the world’s oil and gas reserves but accounts for a large share of electrotech production. That matters for investors in EVs, batteries and wider clean-energy supply chains.
Aditya Lolla, a co-author at Ember, said solar plus batteries is better suited than LNG for bulk power in Asia. Ember’s view, as reflected in the report, is that strong domestic manufacturing and low electricity prices leave the region well placed to supply its own electrified future.
For investors, the direction of travel appears significant. Analysts suggest utilities, developers and equipment makers may face a faster re-pricing of Asian power demand. EV adoption could, in this reading, shift capital away from imported fuels and towards local manufacturing, storage and grid assets. How quickly policy, permitting and grid planning catch up with economics remains a key question to watch.
