MANILA -- Southeast Asian countries could benefit from boosting their renewable energy manufacturing capacity, a new study showed Thursday.

The study, released on the sidelines of the ASEAN Finance Ministers and Central Bank Governors Meeting led by the Asian Development Bank, showed that growing Southeast Asia’s solar photovoltaic (PV) cells, battery, and electric two-wheeler industries presents an estimated $90 billion to $100 billion revenue opportunity by 2030.

It also has the potential to create 6 million renewable energy jobs by 2050.

The report said governments must stimulate domestic renewable energy demand, ensure cost competitiveness, improve the ease of doing business, and boost access to export markets to support the clean energy sector.

"The battle against climate change will be won or lost in Asia and the Pacific. A decisive front in that battle is Southeast Asia,” said ADB Sectors Group Director General and Group Chief Ramesh Subramaniam.

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