Is energy storage a viable business model in Thailand?

The Provincial Electricity Authority (PEA) of Thailand will explore the feasibility of energy storage business models in collaboration with Nuovo Plus, a subsidiary of state-owned oil and gas company PTT Group.

How much energy will Thailand produce in 2037?

However, under the latest edition of Thailand’s national Power Development Plan, published last month, the Ministry of Energy plans to procure 77.4GW of new energy capacity to meet growing demand. The peak is projected to grow to 56.1GW by 2037, while renewable energy’s share of the electricity generation mix will increase to 51%.

What is Thailand's 2024 Power Development Plan?

Thailand’s 2024 power development plan (PDP) aims to increase renewable energy use, highlighting the importance of BESS alongside solar panels and wind turbines. This could create new business opportunities for entrepreneurs if prices decrease or new technologies emerge for stationary batteries.

What kind of energy does Thailand use?

Thailand heavily relies on fossil fuels, with natural gas and coal accounting for the majority of its power generation. Renewable energy, including biofuels and waste-to-energy, represents about 10% of the mix, with solar and wind at 4%.

Could a sodium-ion battery be a new business opportunity in Thailand?

The Federation of Thai Industries’ Renewable Energy Industry Club sees potential in sodium-ion battery (SIB) production as an alternative to lithium-ion batteries. SIBs, made from rock salt, could offer a new business opportunity given Thailand’s abundant rock salt reserves.

Can Bess create business opportunities in Thailand?

Watcharin Boonyarit, director of solar energy development at the Department of Alternative Energy Development and Efficiency, noted the potential for BESS to create business opportunities as Thailand transitions to renewable power sources. “We should not only import BESS but also consider new investment projects in this battery business.”