Renewable energy consumption APAC 2023, by country
China dominated the renewable energy consumption globally and in the Asia-Pacific region, with the country consuming **** exajoules in 2023. This level far surpasses that of other major economies in the region, including India and Japan, which consumed *** and *** exajoules, respectively.
Leading renewable energy markets
China, India, Japan, and Vietnam are among the leading renewable energy markets in the Asia-Pacific (APAC) region, with increasing investments in the development of renewable energy. Moreover, Australia has focused particularly on the development of solar and wind energy, with around ** percent of its electricity coming from solar power and about ** percent of its power generation coming from wind. Australia has the largest share of wind and solar power in the electricity mix among APAC countries. China has continued to see the largest investments globally in energy transition, while India is also attracting significant investments. Southeast Asian markets have emerged as potential renewable energy markets, with Vietnam making the most progress in capacity expansion. However, these emerging markets face persistent energy infrastructure, policy, and financing challenges that must be addressed in order to speed up the transition to clean energy.
The dual challenge: rising energy demand and carbon emissions in Asia-Pacific
Despite these advances in renewable energy, APAC is still heavily reliant on fossil fuels to meet its rapidly growing energy demand from expanding cities and industries. Coal still accounts for over half of APAC’s power generation, with China consuming the largest share. Unsurprisingly, the region remains the world’s largest energy-related carbon dioxide emitter. China, in particular, is the leading source of CO2 emissions from fuel combustion. In 2023, the country emitted nearly **** billion metric tons of carbon dioxide equivalent, exceeding the combined emissions of the United States, India, Russia, and Japan. This situation underscores the complex challenge facing rapidly developing economies: how to sustain economic growth, meet rising energy needs, and improve living standards while curbing carbon emissions and ensuring a just and inclusive energy transition.
