Renewable power generation grew faster than overall global energy demand for the first time in decades in 2019. Global solar PV capacity reached over 2.2 TW in 2024. Energy storage is shifting towards 4-hour battery systems as costs decline, with a 42% average year-over-year growth rate expected through 2030. Energy storage is expected to become cost-competitive by 2030, with a 30% or more CAGR for storage capacity in the region from 2026 to 2030. Countries like Nepal and Bangladesh which are connected to the Indian electricity grid, and Sri Lanka which will soon be connected, also present exciting potential to export  - Nepal to India and Bangladesh, and India to Bangladesh and Sri Lanka. The cost of renewable energy and storage continues to drop dramatically and many customers across the world can switch now to Solar and Wind at costs that are lower than what they pay for electricity from the grid or from coal today.

Terrasolve is at the forefront of this transformation to renewable energy in underserved markets of Asia.