Clean energy solutions driving sustainable urban development
The real estate industry plays a crucial role as a builder of cities, but it is currently facing new challenges, especially in countries like Vietnam and Indonesia.
These challenges include environmental factors that are intricately intertwined.
Real estate developers need to adapt to the changing landscape and embrace innovative solutions that not only address environmental concerns but also provide sustainable and efficient urban living environments.
S&P Global Ratings forecasts that external factors will still heavily impact real estate developers in both Indonesia and Vietnam, while the future of commercial real estate in Singapore remains uncertain.
A summary from the report titled "Update on Southeast Asia Property: External Conditions Squeeze Developers" by S&P Global Ratings highlights the constraints faced by developers in Indonesia, including the delays in project sales due to household debt issues. Moreover, developers rely on capital mobilisation from international funds, which presents environmental conditions as a significant challenge, resulting in high fundraising costs.
Real estate developers in Vietnam are exposed to high risks due to a prolonged liquidity crisis, which stems from the ongoing struggle to match capital requirements with sluggish sales.
"Solar cells have become widely used worldwide due to rising energy costs,” Peerakan said.
He cited the example of the United States, where the tax credit policy allows up to a 30% tax deduction for electricity generated from solar cells for five years.
This policy significantly reduces installation costs, making solar cells financially viable for households within 5–6 years and offering a return on investment within three years for the industrial sector.
"There is a growing demand for solar cells in new housing projects. Our company also contributed to the installation of solar cells in the Sansiri housing development," he said.
Regarding the cost of solar cells, previously it was nearly 10 baht per unit, but currently solar cells are the most affordable source of energy worldwide.
Solar cells have undergone innovation, with a new appearance that blends well with the surroundings when installed in a circular shape, enhancing their aesthetic appeal.
Meanwhile, Singapore is also confronted with the issue of office space vacancies exceeding the average, along with macroeconomic headwinds that pose obstacles to progress.
Innovations that address environmental issues are vital drivers of urban development in contrast to the challenges faced by neighbouring countries in overcoming various limitations, especially in terms of environmental considerations. This is in alignment with the content of the seminar "Innovation Keeping the World: Where Does Thailand Stand?" organised by Thansettakij, Spring News, and Nation TV 22.
Peerakan Manakit, president of Iron Energy Co Ltd, said that as a business operator, he views the increasing emphasis on clean energy, particularly solar cells, as a positive development.
Efficient energy management, such as using applications to track carbon emissions or manage energy in homes and organisations, has also become more prevalent.
Krisada Utamote, the president of the Electric Vehicle Association of Thailand, said that Thailand is increasingly adopting clean energy in daily life. The electric vehicle market in Thailand has experienced a growth rate of 400% in the registration of new electric vehicles on the roads compared to the previous year, thanks to the government’s EV promotion policies.
"In the future, it is possible to develop various systems that align with the increasing use of electric vehicles, such as future mobility, electric car sharing, and using apps to open car doors, drive the vehicle, and use it on the desired day," said Krisada.
