Asia Solar Energy Initiative

The common use of solar energy and other cleaner energy technologies is key to combating climate change while sustaining global economic growth. Previously, the high cost of solar generation restricted its advancement to developed economies. Today, the new and emerging markets of Asia and the Pacific offer exceptional expansion opportunities---a rapidly increasing energy demand from a large and growing population, good solar irradiation, and enough patches of otherwise unusable land. The Asia Solar Energy Initiative of the Asian Development Bank aims at developing 3,000 megawatts of solar power and associated smart grid projects in Asia and the Pacific within 3 years. This initiative features three interlinked components on knowledge management, project development, and innovative financing that are intended to accelerate solar energy's progress toward grid parity.