If you have been thinking about investing in Asia energy, you must also think about the countries in Asia that have the highest rates of energy consumption. Electricity consumption was dominated by fuels from fossil burning. But now, many things have changed.
The climate issues became more pressing and there are many sources of renewable energy used including the wind, hydropower, solar, and many more. Some countries in Asia such as India and China with the huge populations they have are consuming more electricity. Should you invest there?
Best Countries to Invest in Asia Energy
Big populated countries mentioned above, such as India and China, indeed consume more electricity compared to the other countries with less population. But those countries will also be required to deliver the feasible Asia investment strategy that will lessen the consumption impact to the environment.
This country is the most populated nation in the world and also the powerhouse for Asian continent. It is because China is topping the consumption of electricity, not only in the Asia continent but also globally. This country is devouring energy over 6.3 trillion kWh.
Based on the data from China Electricity Council, China’s electricity consumption from January 2019 to April 2019 surpassed 2.23 trillion kWh. This data reflects 5.6% year on year increase. For April 2019 alone, China’s electricity consumption reached 553.4 billion kWh. It increased by 5.8%.
India is on the second rank of the world’s biggest population. India becomes a great country for Asia investment since every year, this country is consuming 1.54 trillion kWh of electricity. That number makes India become the third biggest electricity consumer on the planet.
India is predicted to reach 4 trillion kWh of electricity consumption by the year of 2030. The electricity sector in India is dominated by fossil fuels like coal. But the government in India has begun the exploration of investment opportunities especially in the sources of renewable energy.
The new sources include biomass power, small sized hydro projects, industrial and urban waste power, biomass gasifiers, wind energy, and solar energy. India is planning to attain the capacity of about 175 million kW by 2022.
This country is the fourth biggest consumer of coal in the world. Japan is also the third biggest user of the world’s oil. Besides, this country is also ranked as the third biggest electricity consumer in Asia, after China and India.
Japan is consuming 0.93 trillion kWh of electricity every year. Japan is now distributing the electricity through two separated grids, the western and eastern. If you are planning to invest in Japanese energy, identify the right Asia growth strategy.
The three countries above are not the only countries where you can invest in Asia energy. South Korea and Saudi Arabia are offering awesome opportunities as well. South Korea is using power about 17.70 billion kWh every year. Saudi Arabia used 289,929.15 million kWh of electricity in 2018.
Start your research now and identify the best strategy to enter the new energy market in Asia.