IEEFA: Russia-Ukraine conflict adds impetus to Asia’s energy transition
Russia’s invasion of Ukraine spells further turmoil for global energy markets already reeling from extreme price volatility over the past two years. For Asian economies dependent on imported fossil fuels, volatile prices since 2020 have caused fuel shortages, exorbitant government subsidy burdens, inflation, food scarcity, and political instability. Distributed generation sources, energy storage technologies, microgrid systems, and electric transit technologies, among many other alternatives, can help countries improve self-sufficiency to create a more secure energy system.
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