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Market attractiveness analysis of battery energy storage systems in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam

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  • Yoo, Yeojin
  • Ha, Yoonhee

Abstract

Battery energy storage systems (BESS) have emerged as a solution for mitigating the intermittent nature of solar and wind power with the rise of renewable energy. The application of BESS is essential in integrating large-scale renewable energy. Despite the crucial role that BESS play in facilitating the energy transition, Southeast Asia's BESS market remains in its early stages, marked by a lack of significant BESS policies. Implementing policies to foster a competitive market environment for BESS can attract investors and lead to widespread adoption of the BESS. By assessing BESS market attractiveness in five key Southeast Asian countries (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam), this study investigates the potential opportunities and challenges of the BESS market. The BESS market attractiveness index was developed by identifying key indicators drawn from theories of market potential and industry competitiveness. The findings of this study emphasize the importance of targeted policies, the development of renewable energy, and collaborative efforts among public, private, and international stakeholders in advancing the BESS market. This study provides a comprehensive analysis of the BESS market in Southeast Asia, offering critical insights for policymakers, investors, and researchers to understand the current status and growth prospects of Southeast Asia's BESS market.

Suggested Citation

  • Yoo, Yeojin & Ha, Yoonhee, 2024. "Market attractiveness analysis of battery energy storage systems in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam," Renewable and Sustainable Energy Reviews, Elsevier, vol. 191(C).
    • Handle: RePEc:eee:rensus:v:191:y:2024:i:c:s136403212300953x
    DOI: 10.1016/j.rser.2023.114095
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    References listed on IDEAS

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