Asian nations display commitment in renewable energy development

In recent years, Asia’s renewable energy industry has experienced fast-growing development especially countries in East Asia, Southeast Asia and South Asia. As one of the main developed countries in the world, Japan has made significant achievements in the renewable energy industry, especially in solar energy and renewable energy technologies. China is the leading player of renewable energy development in Asia and its growth in renewable energy industry has been showing tremendous momentum.

The unprecedented rush to develop the renewable energy sector in the region over the last couple of years stemmed partly from the region's effort to revive the ailing economies from the impact of the global economic slowdown. Policies play a key role in the development and utilization of renewable energy industry. As such, governments have introduced policies that included mandatory renewables targets, tax credits, grants and investment incentives to accelerate the penetration of renewables by institutionalizing their use, developing national and local capabilities, as well as providing fiscal and non-fiscal incentives, including higher feed-in-tariffs.