Come December, Thailand will have more solar power capacity than all of Southeast Asia combined as record sums of money is poured into the sector in the hopes of nurturing a new energy source to help drive the region’s second-biggest economy.

Thailand has been shifting away from natural gas as once-plentiful reserves are expected to run out within a decade, forcing it to rely on imported fuel more than any other country in the region except Singapore. A plunge in solar-component costs and subsidised tariffs have also helped feed the country’s solar boom.

About 1,200-1,500 megawatts of solar capacity will be connected to the grid this year, requiring as much as 90 billion baht (US$2.7 billion) of investment, Pichai Tinsuntisook, chairman of the Federation of Thai Industries’ renewable energy division, told Reuters.

Credit and view full story at South China Morning Post