59-05-032 Proceeding

34 Proceedings of the Princess Maha Chakri Sirindhorn Congress in the marginal cost of energy services (Gillingham, et.al. , 2009). It is worth mentioning that EE adoption only helps with carbon reduction when energy conservation is achieved concurrently. According to the Intergovernmental Panel onClimateChange’s survey in the 2014 FifthAssessment Report, rebound effects may be around 20-45% for energy services like heating, cooling and lighting (meaning reduction potential is only achieved at 65-80% of original plan estimates), while the effects can be as high as 70% in industries where cost savings are translated into higher productivity (Jenkins, 2014). Rebound effects varies from regions and sectors, however, it should be taken into consideration when measuring the success of energy conservation and efficiency policies to devise realistic expectations. In summary, EE technologies are relatively mature and ready to implement. However, the actual target for emission reduction through EE and the level of investment should be set out with a good understanding of the market barriers, failures and consumer behavior, which are not necessarily unique to EE. In rapidly developing economies in Asia, especially, the ROIs for EE projects are often compared and contrasted to ROIs for other investments, such as flipping real estate (when real estate prices are booming) or in playing the financial markets versus investing in high CAPEX EE projects. Government intervention requires comprehensive approaches to address energy conservation and efficiency simultaneously to avoid adverse effects on energy demand induced by EE. Renewable Energy (RE) Electricity generation is estimated as the largest sector in both emission and reduction potential. According to the 2oC Scenario (2DS) modeling in IEA’s latest Energy Technology Perspectives 2014, electricity demand will outpace all other forms of energy use - total energy demand will increase by 25% and electricity alone will grow by 80% by 2050, while CO 2 emission per unit has to decrease 90% (IEA, 2014).The prospect of using coal, oil and gas as primary fuel for electricity generation in the future carbon-constrained world depends on the adoption of carbon capture and storage technologies, the development of whichhas yet to pick up. Nuclear power plants have become more socially and politically sensitive, especially after the 2011 Fukushima nuclear accident; but current news shows a possible return to nuclear power in Japan (McCurry, 2015).The long lead time, from new plant construction (from 60 to 100 months) to grid connection (another 150 months to achieve full capacity) due to management related inefficiencies in coordination, sequencing and supply chain, makes nuclear less relevant than coal, oil and gas in the coming decade or so to achieve peak load emission (Thurner, 2014). Renewable energy sources, including wind, solar, geothermal, biomass and hydro technologies, represent opportunities to decouple energy demand growth with carbon emission. In 2013, renewables accounted for about 22% of global electricity generation, and is projected to make up for 35% of total electricity generation by 2025 under the IEA 2DS pathway (IEA, 2014). In addition, renewables are desired to enhance energy security through diversification of energy sources. Many developed economies have advanced the renewable technologies and supporting