No 2050 100% renewable energy; 30-40% renewable energy by the year 2030
At present, Thailand does not have a clear commitment to reach 100% renewable energy by 2050 as the country is still dependent on energy sources generated from fossil fuels. In the year 2050 Thailand will still be dependent upon energy generation from fossil fuels at-least to some extent. However, Thailand holds a very promising future in the short and long-term with respect to energy generation from the renewable energy sources. The reason for the expansion of power generation through renewable energy sources at present, is because of rapid foreign investments in renewable energy projects; and joint collaborations between Thailand and energy exporting private companies in countries like Japan. These relationships are proving to be beneficial in terms of providing the country with advanced technological infrastructures for increasing its power generation capacity from renewable energy sources.
To address strategies for reducing greenhouse gas emissions, stakeholders and policymakers on behalf of the Thai government jointly collaborated for implementing the low carbon green growth policy. The low carbon green growth policy suggests about pursuing economic activities, which are environmentally friendly. generates less carbon or carbon-free and are energy efficient. This policy places a growing emphasis upon using renewable energy sources like solar power, biomass/biofuels, hydroelectric and wind power.
Thailand also has a long-term renewable energy strategy in place, which was established in 2015 with the Alternative Energy Development Plan (2015-2036). The plan has the target of having 30-40% of Thailand’s energy based renewable energy. The Alternative Energy Development Plan (AEDP) will significantly help in the boosting power generation from renewable energy. Achieving the country’s 30-40% renewable energy target by 2036, will require the country to have total renewable power-generating capacity of around 40,000 MW. Achieving the target 40,000 MW within 2036 will require increased investments and facilitation of new renewable energy projects by private companies’ vis-à-vis solar power and wind energy. Private companies at present are showing an increased interest in joining the renewable energy market, however they are unwilling to commit unless the Thai government sets standards and regulates the industry. To elaborate upon the amount of investments required for achieving the 40,000 MW, Cherdsak Wattanavijitkul, managing director of TPC Power Holding argues, “Since the capacity is due to double through [the government’s] policy, it should have appropriate regulations to govern the sector, as massive investment is about to be poured into it. The government should be ready for it or even set up a special committee to govern the industry”.