Renewable Energy Transition in South Asia: Role of Regional Energy Trade
This report delves into the implications of regional energy trade on increasing the proportion of renewable energy consumption within the overall energy usage or the shift away from fossil fuel-centric economies in South Asia. The study employs data from seven nations, employing the Global Trade Analysis Project (GTAP) model to evaluate the consequences on economic growth and societal well-being within these analysed countries. The key finding of the study is that although the actual intra-regional trade of renewable energy is low in South Asia, it has significant renewable energy trade potential. The region is endowed with untapped renewable energy resources that can be utilised if traded among the South Asian Countries to generate a greater scale of benefits for the entire region.