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Across Southeast Asia, the transition to clean energy is gaining momentum, but progress remains uneven. While countries have set ambitious net-zero targets, the region continues to rely heavily on fossil fuels, with coal and natural gas still dominating power generation. Thailand faces similar hurdles in its energy transition. While it has made strides in renewable energy deployment, it remains heavily dependent on fossil gas, which is still classified as a transition fuel in national energy plans.  

In this month’s SIPET Transition Finance Series, we speak with Sarinee Achavanuntakul, Managing Director of Climate Finance Network Thailand (CFNT), an independent research organization dedicated to advancing sustainable finance in Thailand and the region. Sarinee is a former investment banker, turned public intellectual and thought leader in the area of development broadly, and in recent years, she has focused more of her work on climate finance and sustainable investment.  Along with some colleagues, Sarinee set up CFNT last year.  She and her CFNT colleagues are working extensively on financial sector policies, corporate sustainability, and the risks of stranded assets related to Thailand’s energy transition. 

In this conversation with Peter du Pont, Senior Advisor to SIPET and Co-CEO of Asia Clean Energy Partners, Sarinee offers insights into the current state of transition finance, challenges banks face in aligning with climate goals, Thailand’s policy and regulatory barriers, and the role of disclosure standards and stranded asset risks in shaping the region’s financial future. 

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SIPET Connect: Transition finance is often discussed alongside green finance and sustainable finance, but its role in Southeast Asia’s energy transition is distinct. How would you define transition finance, and how does it differ from these other forms of climate-related financing? 

Sarinee: Transition finance is essential for economies shifting from high-carbon to low-carbon energy. No matter how much we promote green finance—which typically funds renewable projects like wind or solar farms—if most financial flows remain locked into fossil fuel infrastructure, the transition will stall. 

There are two key components to transition finance. The first is financing mechanisms that enable the shift away from high-carbon infrastructure, such as funding early coal plant retirements or repurposing fossil fuel assets into cleaner alternatives. A good example is Singapore’s transition credits1, which are designed to support early coal retirements. 

The second aspect is unlocking financial flows from fossil fuel investments and redirecting them toward clean energy. Banks and financial institutions play a major role here. Many have set net-zero targets, but for those goals to be meaningful, banks must provide a clear transition plan—showing how they will gradually phase down fossil fuel lending and scale up investments in clean energy. 

Unlike green finance, which focuses solely on funding projects already considered “green,” transition finance is about actively enabling the shift—by helping existing high-emission industries adapt, rather than simply supporting those that are already sustainable. 

SIPET Connect: What are the biggest challenges for banks in shifting away from fossil fuel lending? 

Sarinee: Banks are intermediaries—they don’t produce energy themselves but play a crucial role in allocating capital. This means that when a bank sets a net-zero target, which also includes the emissions from a company’s supply chain—or Scope 3 emissions—the real challenge is: Will their clients transition? If fossil fuel companies receiving financial support from banks don’t decarbonize, banks won’t meet their climate commitments either. 

Banks essentially have two choices when aligning with net-zero goals: 

Phasing out fossil fuel lending: This approach reduces exposure to high-carbon assets but is difficult because fossil-fuel-based businesses remain profitable and aligned with government policies. Banks that move too early risk being at a competitive disadvantage if their peers continue financing fossil fuel infrastructure and operations. 

Working with clients on decarbonization: Instead of cutting off financing, some banks engage with fossil fuel clients to help them develop transition plans. For example, Kasikorn Bank’s climate consultancy unit2 helps clients design decarbonization pathways while maintaining financial relationships. 

But even this approach has challenges. Bankers are not energy transition experts—they are experts in financial services. Providing technical decarbonization advice requires new skill sets, which take time to build. Additionally, banks need to integrate transition finance products that effectively incentivize clients to move toward cleaner energy sources. 

Ultimately, banks need clear policy signals and incentives to make transition finance scalable. Without strong regulatory direction, many financial institutions will hesitate to take decisive action. 

SIPET Connect: What are the financial risks of continuing fossil fuel investments? 

Sarinee: One of the biggest risks is stranded assets. Based on CFNT’s research, under different climate scenarios, the potential value of stranded fossil-fuel assets owned by Thai power producers could be valued between $10 billion and $15 billion.3 This is a major financial risk for banks that continue lending to fossil-fuel-based projects without a clear transition plan. 

Another looming issue is carbon pricing. While Thailand does not yet have a carbon tax for the energy sector, I believe it is only a matter of time before it is introduced. When that happens, gas-fired power will become even less competitive compared to renewables. If banks fail to anticipate this shift, they could end up with bad loans tied to fossil-fuel-based assets that are no longer profitable. 

Ultimately, financial institutions need to understand and integrate these risks into their lending strategies, rather than assuming fossil fuel investments will remain viable in the long run. 

SIPET Connect: Thailand’s power development plan still includes new fossil gas plants. How does this affect transition finance efforts? 

Sarinee: The slow progress in transition finance is largely due to the absence of a clear policy directive. In the most recent draft of Thailand’s Power Development Plan (PDP), while there are no new coal-fired power plants, there is still no official coal phase-out date or plan, and the PDP continues to include a substantial share of new fossil-based, natural gas plants. 

For commercial banks, this creates a dilemma. Many have financed gas companies for decades, and while they might set ambitious net-zero targets, they are operating in a policy landscape that still strongly supports natural gas. The government’s stance effectively signals that natural gas will remain a transition fuel for the foreseeable future. 

Thailand’s long-term Power Purchase Agreements (PPAs) for gas infrastructure guarantee fixed returns for fossil fuel projects, making them low-risk investments for banks. This financial certainty reduces incentives for banks to shift funding toward renewable energy, as renewable projects often lack similar guaranteed revenue streams under existing policies. With such financial certainty, banks have little incentive to prioritize renewable energy—despite the fact that wind and solar are now more cost-competitive. 

Without stronger policy signals—such as a carbon tax or regulatory frameworks that make non-transition projects more costly—banks will continue to finance fossil fuels, prioritizing financial security over the energy transition." 

SIPET Connect: There has been discussion about introducing a carbon tax and an Emissions Trading System (ETS) in Thailand. How would these impact transition finance? 

Sarinee: Thailand is exploring both options, but neither is fully implemented yet. A carbon tax could provide a clear price signal, but if it is set too low, it won’t drive real change. Similarly, an ETS could allow industries to trade emissions allowances, but its effectiveness will depend on how strictly it is enforced. 

If designed well, these mechanisms could push banks and corporations to invest in clean energy faster. But without strong regulatory backing, they risk becoming symbolic rather than transformative. 

SIPET Connect: How impactful are disclosure standards and green taxonomies in shaping transition finance? Can they meaningfully shift investor and bank behavior, or do they risk becoming just another reporting requirement? 

Sarinee: Disclosure standards alone are not enough. The real challenge isn’t just requiring companies to report their emissions—it’s whether investors, regulators, and financial institutions actually use that information to change financial flows. Right now, we’re still early in that journey. 

Fair Finance Thailand, a coalition co-founded by CFNT’s parent company Sal Forest, recently conducted a case study comparing climate disclosures from six Thai banks, and one of the biggest challenges they reported was assessing the quality of emissions data from their clients. This difficulty in monitoring, reporting, and verifying emissions isn't just a problem for banks—regulators and government agencies also struggle to standardize and compile credible emissions data across sectors. If banks don’t have reliable data, how can they accurately price risk or make strategic decisions around transition finance? 

On the regulatory front, Thailand’s Securities and Exchange Commission (SEC) has announced that it will mandate IFRS S1 & S24 climate disclosures5 for publicly listed companies, beginning with the SET50 firms in the coming years. This follows similar steps taken in Singapore and Malaysia, so Thai companies must now catch up. Meanwhile, the Bank of Thailand’s Green Taxonomy is also being introduced to help categorize financial flows. Both frameworks could help set new standards for how Thai banks approach climate risks and transition finance. 

However, the key question remains: Will these regulations actually change lending behavior, or will they simply add another compliance requirement with limited impact? Without strong policy direction and regulatory enforcement, disclosure runs the risk of becoming a box-ticking exercise rather than a real driver of change. If financial institutions are serious about transition finance, they need to go beyond reporting—they must actively integrate climate risks into credit decisions and capital allocation strategies. 

SIPET Connect: Can you tell us about Climate Finance Network Thailand (CFNT) 6and its role in advancing climate finance policies? 

Sarinee: CFNT is primarily a research organization, but the word “network” in our name reflects our goal of creating a community of practitioners interested in climate finance and sustainable development. Climate action is inherently complex and requires collaboration across multiple disciplines, so we aim to bridge knowledge gaps and foster partnerships that push Thailand’s financial sector toward more proactive climate action. 

Currently, CFNT focuses on climate finance research, with a particular emphasis on how financial institutions can be incentivized to shift away from high-carbon investments toward green and climate adaptation projects. We started with research on stranded asset risks, financing of the coal phase-out, and alternative financing mechanisms like crowdfunding for solar projects. Since banks in Thailand tend to be risk-averse in lending for renewables, we are exploring non-bank financing solutions that could expand access to clean energy. 

Additionally, we are expanding into tracking climate finance flows—analyzing where climate mitigation and adaptation financing originates and how it is deployed in Thailand. Adaptation finance remains a significant challenge because many of the most impactful projects do not yield immediate financial returns. Unlike mitigation projects—where cost savings can be quantified—adaptation projects benefit communities or reduce long-term risks for companies, making them harder to finance. We are working to address these gaps by developing methodologies for evaluating adaptation investments and advocating for policies that support long-term climate resilience funding. 

Through these research efforts and collaborations, CFNT seeks to drive meaningful changes in Thailand’s financial policy, ensuring that climate finance not only supports economic transitions but also delivers tangible benefits to society and the environment. 

SIPET Connect: Are you optimistic or pessimistic about scaling up transition finance in Thailand? 

Sarinee: [chuckles] I have to be optimistic to work in climate finance in Thailand! But there are real reasons to be hopeful. Unlike Indonesia, Thailand does not rely heavily on coal for power generation—we can literally count the coal-fired power plants still operating, and they account for about 20% of power generation. Many of them are old—15 years or more.  And many are state-owned, which means that Thailand could easily announce a date to reach a coal-free power sector and work toward that goal. 

Another promising factor is the rise of decentralized renewable energy. More and more Thais, facing severe droughts and floods, are questioning why their local governments lack control over energy decisions. If properly supported, renewables could strengthen energy democracy—empowering communities while lowering costs. 

However, for true progress, we urgently need stronger policy direction, a clear coal phase-out plan, and financial instruments that actively incentivize transition, rather than just maintain the status quo. 

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Editor’s Note: Sarinee Achavanuntakul presents a clear-eyed assessment of Thailand’s transition finance landscape—one that is filled with challenges but also ripe with opportunities. Thailand, along with the rest of the ASEAN region, face policy inertia, financial lock-in, and slow-moving bank strategies, but there is also growing market pressure for change. 

As the region grapples with rising energy costs, stranded asset risks, and evolving disclosure rules, the key question remains: Will financial institutions proactively lead the transition, or will they wait until market forces leave them with no choice?  

As Thailand strides toward its 2050 carbon neutrality goal, innovative solutions are essential to balance energy demands, food security, and climate resilience. Enter agrivoltaics—a dual-use approach that integrates solar panels with agricultural activities. This blog explores how Thailand can harness agrivoltaics to transform its energy and agricultural sectors, drawing insights from a recent study by the project CASE and School of Renewable Energy and Smart Grid Technology (SGtech), Naresuan University.

What is Agrivoltaics?

Agrivoltaics combines solar energy generation with crop cultivation or livestock farming on the same land. By installing solar panels above or between crops, this system optimises land use, reduces water evaporation, and creates microclimates that benefit shade-tolerant plants. For Thailand—a nation with abundant sunlight and a strong agricultural base—agrivoltaics offers a pathway to sustainable development.

Why Agrivoltaics Matters for Thailand?

Economic Empowerment for Farmers

- Farmers gain additional income through solar energy sales or reduced electricity costs.

- Leasing land for solar installations provides financial stability, especially in regions with low agricultural yields.

Climate Resilience

- Solar panels mitigate heat stress on crops, conserve soil moisture, and reduce reliance on fossil fuels.

- Supports Thailand’s pledge to achieve 50% renewable energy by 2030 and net-zero emissions by 2065.

Land Efficiency

- Addresses land scarcity by enabling simultaneous food and energy production. Countries like Germany and Japan allocate 60-70% of agrivoltaic land to agriculture.

Rural Development

- Enhances infrastructure, promotes eco-tourism, and fosters innovation through farmer-academia-industry collaboration.

Thailand’s Policy Landscape: Opportunities and Gaps

While Thailand has policies supporting renewable energy (e.g., the Alternative Energy Development Plan) and sustainable agriculture, agrivoltaics lacks a dedicated regulatory framework. Key challenges include:

- Land Use Conflicts: Agricultural land zoning prohibits non-farming activities without permits.

- Grid Connectivity: Farmers face bureaucratic hurdles to sell surplus solar energy.

- Technical Knowledge: Limited awareness among farmers about agrivoltaics design and crop compatibility.

Global Success Stories: Lessons for Thailand

1. China: Scaling Agrivoltaics on Degraded Land

The 200 MW Jiangshan Agrivoltaic Park in Zhejiang Province combines solar panels with shade-tolerant herbs (e.g., Dendrobium orchids) and livestock zones. The project restored degraded, erosion-prone land while generating clean energy for 113,000 households.

Key Policies:

- Subsidies for solar projects on marginal or underutilised land.

- Integration of agrivoltaics into the 13th Five-Year Plan to maximise land efficiency.

Outcome: 90% vegetation cover reduced soil erosion, and farmers earned dual income from crops and energy sales.

Adaptation Tip: Thailand could replicate this model in its northeastern drought-prone regions, pairing solar with drought-resistant crops like moringa or medicinal herbs.

2. France: Balancing Energy and Agriculture with Strict Standards

French startups like Sun’Agri use dynamic solar panels that tilt to optimise light for crops. A vineyard in southern France reported a 12% increase in grape quality under panels due to reduced heat stress.

Key Policies:

- Decree No. 2024-318: Caps solar coverage at 40% of agricultural land and mandates <10% crop yield loss.

- Feed-in tariffs for small-scale projects (<500 kW).

Outcome: Over 300 agrivoltaic farms operate nationwide, with 1.2 GW installed capacity.

Adaptation Tip: Thailand could adopt dynamic panel technology for high-value crops like durian or mangosteen.

3. Italy: Agri-PV Meets High-Value Crops

The 70 MW Pontinia Solar Farm in Lazio integrates bifacial solar panels with olive groves and saffron cultivation. The project allocates 65% of land to agriculture while powering 47,000 homes.

Key Policies:

- National Recovery and Resilience Plan (PNRR): €1.1 billion allocated for agrivoltaics, covering 40% of project costs.

- Requires 70% of land to remain agricultural.

Outcome: Improved soil health and a 30% rise in saffron yields due to partial shading.

Adaptation Tip: Thailand’s orchards (e.g., lychee, longan) could benefit from similar partial-shade systems.

4. South Korea: Overcoming Land-Use Barriers

Pilot projects like the Rockport Blueberry Farm in Maine (USA collaboration) use elevated solar panels to grow blueberries, reducing water use by 20%.

Key Policies:

- Dual-Use Solar Energy Act: Allows temporary solar installations on agricultural land for up to 23 years.

- Exemptions for projects on saline or low-yield farmland.

Outcome: Farmers earn 3x more from energy sales than traditional farming.

Adaptation Tip: Thailand’s coastal salt farms could adopt similar models for solar-salt production synergy.

5. India: Community-Driven Agrivoltaics

The PM-KUSUM Scheme supports 10 GW of solar capacity on farmland, with panels elevated to allow crop growth underneath. In Gujarat, farmers grow turmeric and spinach under solar arrays.

Key Policies:

- Subsidies for solar pumps and grid-connected systems.

- Land conversion waivers for projects in arid regions.

Outcome: 40% reduction in irrigation costs and 25% higher crop yields.

Adaptation Tip: Thailand’s rice paddies could integrate solar panels during non-growing seasons to maximise land use.

Why These Models Matter for Thailand

Each success story underscores a critical lesson:

Flexibility: Agrivoltaics must adapt to local crops, climate, and land types.

Policy Clarity: Clear regulations on land use, energy sales, and farmer incentives are non-negotiable.

Community Buy-In: Farmers and rural communities must be central to project design and benefits.

By blending these global insights with Thailand’s agricultural strengths, the country can pioneer a tropical agrivoltaics model that boosts food security, cuts emissions, and empowers rural economies.

Policy Recommendations for Thailand

Cross-Sector Collaboration: Establish a multi-ministry taskforce (Energy, Agriculture, Environment) to streamline regulations.

Financial Incentives: Subsidise solar installations for farmers; introduce feed-in tariffs for agrivoltaics energy.

Land Zoning Reforms: Create a new land-use category for agrivoltaics, permitting dual-purpose activities.

Capacity Building: Train farmers in agrivoltaics best practices through university partnerships.

Pilot Projects: Launch demonstration farms in drought-prone regions (e.g., Northeast Thailand) to test crop-solar synergies.

The Road Ahead

Unlocking Thailand’s agrivoltaics potential requires proactive policies, strong stakeholder collaboration, and increased public awareness. By drawing insights from global leaders and adapting them to local contexts, Thailand has the opportunity to lead the region in sustainable energy and agriculture.

Policymakers: Integrate agrivoltaics into national energy and agricultural strategies.

Investors: Support pilot projects and invest in R&D for agrivoltaics systems suited to tropical climates.

Academics: Conduct research on crop-specific solar panel configurations and assess their impacts on local climate conditions.

*This blog was originally published on the website for the project Clean, Affordable, and Secure Energy for Southeast Asia (CASE)

Thailand’s ambitious commitment to achieve carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065 underscores the nation’s urgent need to expand its renewable energy (RE) capacity. Rooftop solar PV systems represent a promising solution to diversify Thailand’s energy mix and empower consumers to participate in the energy transition. Despite its vast solar potential and declining technology costs, the adoption of rooftop solar remains significantly underutilized due to various barriers. At CASE, we’ve carefully analysed the challenges holding back rooftop solar in Thailand and crafted a strategic roadmap to help unlock its full potential.

The Untapped Potential of Rooftop Solar

Thailand boasts a technical solar potential exceeding 300 GW, yet less than 2% of its land area is needed to achieve this. By 2037, the market potential for rooftop solar PV energy is projected at 9,000 MW. However, as of 2022, only 1,800 MW of rooftop solar PV capacity has been installed, representing a small fraction of this potential. With electricity costs reaching grid parity and technology advancements making solar PV more efficient and affordable, the opportunity to harness rooftop solar as a key renewable energy source has never been greater.

Key Barriers to Investment

Our research has uncovered eight key risks that are slowing down investments in rooftop solar PV systems.

1. Administrative and Permitting Risks: A complex and time-consuming permitting process involving multiple agencies results in high costs and inefficiencies. For installations exceeding 1 MW, additional factory operation permits are required, further complicating the process.

2. Power Market Risks: Inconsistent policy frameworks, low buyback rates under net-billing schemes, and a lack of long-term incentives hinder investor confidence and consumer adoption. Policies allowing only self-consumption and prohibiting grid exports also limit financial viability for larger systems.

3. Financial Risks: Restricted access to financing, unattractive loan terms, and lender aversion to project-specific risks discourage investments. Fluctuations in exchange rates exacerbate these financial challenges, as most solar equipment is imported.

4. Developer Risks: A lack of experienced and certified developers increases uncertainties. Small developers often face challenges related to financial management and capacity, while third-party ownership contracts introduce additional risks, such as discrepancies between projected and actual energy consumption.

5. Hardware Risks: High costs of lithium-ion batteries and limited capacity for testing solar panels pose challenges for ensuring the quality and affordability of installations.

6. Grid and Transmission Risks: Limited grid hosting capacity and a lack of transparency regarding grid codes and connection requirements lead to additional costs for consumers.

7. Labour Risks: Insufficient certified solar PV installers and a lack of specialized engineering expertise hinder the deployment of high-quality systems.

8. Social Perception Risks: Misconceptions about rooftop solar systems, such as fears of lightning strikes or unrealistic expectations about energy independence, deter adoption, particularly in the residential sector.

Quantifying the Impacts of Risks

To help you better understand the financial impact of these risks, we’ve used the UNDP’s Derisking Renewable Energy Investment (DREI) framework to break it down. The analysis reveals that administrative and permitting risks, power market risks, and developer risks account for 57% of the risk premiums that elevate the cost of equity and debt. Mitigating these risks could lower the cost of equity by 2.4 percentage points and the cost of debt by 1.7 percentage points, making rooftop solar investments more attractive.

Recommendations to Overcome Barriers

To address these challenges, we outline several actionable recommendations:

1. Streamlining Administrative Processes:

- Develop a centralized one-stop-shop platform to simplify permitting, streamline equipment registration, and provide online application processes.

- Use this platform to consolidate information on equipment standards, financial products, policy incentives, and regulations, reducing time and costs for stakeholders.

2. Enhancing Policy and Financial Support:

- Establish long-term targets and steady support programs for rooftop solar PV, covering residential, commercial, and industrial consumers.

- Introduce risk-sharing mechanisms like loan guarantees, performance-based incentives, and partial risk guarantees to improve access to finance.

- Encourage the development of insurance solutions to cover risks associated with energy production interruptions.

3. Aligning with Grid Planning:

- Integrate rooftop solar targets with grid development plans to enhance demand forecasting and grid hosting capacity.

- Promote the use of energy storage systems (ESS) to enable demand response and reduce peak demand.

Building Capacity and Raising Awareness:

- Expand training and certification programs for solar PV installers to improve the quality and safety of installations.

- Conduct public awareness campaigns to address misconceptions and highlight the economic and environmental benefits of rooftop solar.

Fostering Innovative Business Models:

- Support peer-to-peer (P2P) energy trading and direct power purchase agreements (PPAs) to encourage community-driven energy sharing and long-term price stability.

- Explore vehicle-to-grid (V2G) technology to use electric vehicles as energy storage devices, creating new revenue streams and enhancing grid resilience.

Improving Developer Transparency:

- Establish review systems for developers and installers to enhance transparency and build investor confidence.

- Implement policies to manage solar waste and promote second-life markets for used panels and batteries.

We believe the success of these initiatives depends on all of us—government agencies, utilities, financial institutions, private sector stakeholders, and individuals—working together. By fostering partnerships and aligning goals, Thailand can create a conducive environment for rooftop solar PV investments, ensuring a just and sustainable energy transition.

Rooftop solar PV systems offer a transformative opportunity for Thailand to achieve its renewable energy targets, reduce dependence on fossil fuels, and empower consumers to participate in the energy transition. By addressing key barriers and implementing the recommendations outlined in the CASE report, Thailand can unlock the full potential of rooftop solar, paving the way for a cleaner, greener future.

*This blog was originally published on the website for the project Clean, Affordable, and Secure Energy for Southeast Asia (CASE).

Agrivoltaics is the integration of agriculture with solar power generation, achieved by installing solar panels above or between agricultural areas. It is a crucial method for sustainable development in Thailand, offering significant economic benefits such as increased agricultural yields, reduced electricity costs for farmers, efficient land use, and increased solar energy utilisation. This study proposes policy guidelines to promote Agrivoltaics in Thailand, covering the agricultural, energy, and land sectors, as well as other relevant areas, to enable its practical implementation in the future.

Read the Thai language version here

Recently, the world has been transitioning towards renewable energy (RE) consumption. The smart grid, a pivotal factor in facilitating this transition, is an electricity network that integrates digital and information communication technologies to enhance the capacities of devices (e.g., smart metres, sensors, and automated control systems). It enables efficient communication, monitoring, control, and management of electricity within the network. Additionally, the smart grid ensures proper electricity generation and consumption, particularly when addressing the intermittency of RE sources like solar energy.

Accordingly, solar forecasting is one of the most critical components of renewable energy systems. The smart grid system relies on resilience and accuracy in power generation and consumption, and solar forecasting enhances the ability to predict the quantity of solar energy generated in advance. Solar energy production is highly volatile, depending on factors such as weather conditions and time of day. Accurate solar forecasting allows electricity operators to manage electrical loads effectively, reduce the risk of mismatched power generation and consumption, and improve the overall efficiency of the electrical power system.

Developing accurate solar forecasting requires diverse and high-quality datasets. These include specific weather data for a given area (e.g., temperature, humidity, wind speed, and cloud cover), technical details about the solar system (e.g., solar panel size, panel efficiency, and installation specifications), and information from the electricity network (e.g., power allocation data).

However, collecting datasets for forecasting models poses challenges. The data are often scattered across multiple sources, presented in varying formats and types, and serve different purposes. For instance, policymakers require an overview of the data to inform strategy development, while forecasting staff or researchers need detailed, specific information to improve accuracy. Meanwhile, the general public seeks simplified and easily understandable reports. These datasets may come in formats such as Excel, CSV, or PDF. These challenges are global in nature and significantly impact the quality and effectiveness of forecasting outcomes.

Therefore, standardising the collected datasets is essential for effective Big Data analysis and the adoption of artificial intelligence (AI). Without proper data management, analysis and AI integration cannot deliver the desired results.

Big Data and AI are pivotal tools for advancing solar forecasting. They can analyse large datasets from various sources, such as satellites, weather monitoring stations, and solar systems used by general consumers, providing a comprehensive view of power generation and consumption. They also enable the development of highly accurate forecasts. An Open Data Platform is another promising tool. This platform provides open access to solar energy-related information, such as data collected from household solar panel sensors, improving both local and national forecasting accuracy and fostering collaboration among public, private, and third-sector stakeholders.

However, the successful development of Big Data systems and Open Data Platforms requires consistent technological infrastructure and supportive policies that ensure safe and equitable information sharing. Such measures are crucial to maximising the benefits of solar forecasting development and creating a sustainable renewable energy system for the country.

Authors: Peetiphat Thirakiat, Varinthon Kessayom and Dr Siripha Junlakarn, Energy Research Institute (ERI), Chulalongkorn University.

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This article was originally published on greennews.agency as part of the project Clean, Affordable, and Secure Energy for Southeast Asia (CASE).

Thailand has huge rooftop solar potential that could offer both benefits of diversifying the country's renewable energy sources and enabling distributed generation at the consumer level through behind-the-metre installations.Despite a surge of rooftop solar PV installations in 2023, driven by high electricity prices, the current adoption rate of rooftop solar PV systems inThailand is still much lower than its vast potential. This gap is due to several policy, regulatory and financial risk barriers. This study systematically identifies the risks associated with rooftop solar PV investment in Thailand  and quantifies these risks’ impacts on financial costs (i.e., the cost of equity and the cost of debt). In addition, the study highlights suggested policy and financial de-risking instruments that can support rooftop solar PV deployment in Thailand.

Coral Life is a trailblazer in the provision of sustainable building solutions in Thailand, and the company has been making significant strides in the design and construction of energy-efficient buildings in Asia. The company was founded by James Duan, who has extensive experience in property development and wanted to address inefficiencies in traditional construction practices. Coral Life’s mission centers on creating innovative, energy-efficient buildings that not only minimize environmental impact but also enhance living and working conditions. The company’s pioneering efforts led to the development of the first house in Southeast Asia’s certified by Germany’s Passive House Institute (PHI), which sets a new standard for energy-efficient construction in the region.

Peter du Pont and Marc Tagub of SIPET recently sat down with Thien Juengwirunchodinan, Head of Marketing for Coral Life. In our conversation, Thien offered a candid look into the company’s evolution, its revolutionary technologies, and its aspirations for energy-efficient construction in Southeast Asia. This conversation offers a glimpse into how energy-efficient construction can be a key driver in achieving a sustainable energy transition.

The Context for Efficient Cooling

In a rapidly heating world, indoor cooling energy is a fast-emerging area of concern, and also innovation. According to the International Energy Agency’s (IEA) 2016 Future of Cooling report, “space cooling is the fastest-growing energy in buildings, both in hot and humid emerging economies were incomes are rising, and in the advanced industrialised economies”. Final energy use for space cooling in residential and commercial buildings worldwide more than tripled between 1990 and 2016, to 2020 terrawatt hours (TWh) per year. With the recent increase in temperatures, especially in Asia, which has been heating faster than the global average, this figure is going to continue to rise. However, innovations are underway to reduce cooling energy demand and the consequent energy costs, including in Southeast Asia. 

The Coral Life Approach

In Thailand, the Coral Life Group has been designing and building residential buildings that have lower indoor temperatures. It does so by eliminating heat transfer through effective building envelopes and low-flow ventilation strategies, which results in buildings with high thermal comfort and very low energy use.

Coral Life founder James Duan’s experience in property development in Greater Bangkok exposed him to the inefficiencies in residential construction. Determined to innovate, he committed Coral Life to the creation of energy-efficient, sustainable living spaces.

“It has always been our strategy to think about innovative buildings, innovative ways to introduce (quality of) living, and absolutely innovative ways to create living and working spaces,” said Thien Juengwirunchodinan, Head of Marketing at Coral Life.

This approach led the company to build a demonstration home in Thailand that meets the standard levels set by the Passive House Institute (PHI), which are the world’s most stringent standards for energy usage. Originating in Germany, these standards required adaptation for Thailand’s hot and humid climate. When Coral Life executed its cooling strategy in building a house near Suvarnabhumi Airport, the 200-square-meter residence became the first PHI-certified house in Southeast Asia. “This helped us understand what it takes and what can be achieved in being super energy efficient, given what was built,” Juengwirunchodinan said.

The results of this demonstration project were extremely encouraging.  “With a highly effective  building envelope and ventilation system, the energy bills for the house dropped from 15,000 baht (USD 415) per month to less than 2,000 baht (USD 55) a month, with most of the savings resulting from reduced cooling costs”, explained Juengwirunchodinan.

The Most Energy-Efficient Building in Thailand

In May 2023, Coral Life opened a new headquarters building in Sukhumvit 39 that executes these principles on a larger scale. It is now the most energy-efficient office building in Thailand, and uses  85% less energy than conventional structures. Juengwirunchodinan said that this is not only due to using the right materials, but also the techniques to assemble these materials. “The principles of a strong building envelope and proper ventilation strategies apply universally,” he asserted.?

A critical tool in Coral Life’s toolkit is its advanced humidity control system that maintains relative humidity within 40-60%. “When humidity is controlled, cooling a space becomes less energy-intensive, and people experience more thermal comfort as well,” Juengwirunchodinan said.

This approach leads to major energy savings, but the benefits do not end there. The building design also provides a high-quality indoor living experience. The electricity bills of Coral Life headquarters’ building are 70,000 baht (USD 1,900) per month, compared to 500,000 baht (USD 13,800) per month for a comparable commercial building.  These savings have been achieved without sacrificing comfort or functionality. The building is a functional office space, with lighting systems, ventilation and cooling systems, appliances and equipment, and plug loads, but the thermal comfort of the building is evident when one enters the space—with quiet, low-flow ventilation, relatively low-humidity levels and clean indoor air with near-zero levels of pollutants.

“It’s not about turning off everything that we don’t use, but about spending what (energy) we use efficiently,” Juengwirunchodinan pointed out.

The Challenges Ahead

One of the major challenges that Coral Life faces is to mainstreaming the design of efficient features into the construction of new buildings. “We are making some progress and are already developing buildings to high levels of efficiency for some of our clients”, says Juengwirunchodinan. " The biggest challenge is communication and awareness. It’s not a question of whether the efficient construction works. It’s a question of understanding how it works and convincing the client of the benefits and the win-win nature of this approach.”

Juengwirunchodinan also highlighted the importance of supportive government policies and financial incentives, such as green loans and tax breaks, which he says are crucial to facilitate much broader adoption of energy-efficiency building techniques. 

Coral Life’s journey underscores the huge potential of energy-efficient buildings in driving the energy transition. By demonstrating substantial cost savings, enhanced thermal comfort, and alignment with larger environmental goals, the company is setting a benchmark for sustainable urban living, and creating an inspiring vision for a future in which energy-efficient buildings will be the norm.

Peter du Pont is the Co-Founder and Co-CEO and Marc Tagub is the Team Leader – Knowledge Management and Stakeholder Engagement, for Asia Clean Energy Partners, a Bangkok-based company.

This paper by the Climate Finance Network Thailand evaluates the financial implications of decommissioning coal and gas power plants in Thailand. Using discounted cash flow analysis, it examines three scenarios, highlighting potential stranded asset risks and the need for strategic energy transition planning aligned with climate goals.