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Economic Aspect

The GHG countermeasures in Thailand's NAMAs have been assessed in terms of macroeconomic effects by using the input-output table. Results show that investment from the economic sector in Thailand's renewable energy power plants can be increased, which will cause an increase in the domestic production when compared to the 2020 BAU scenario. It also means an increase in investment for biomass and hydropower plant power generation, despite the fact that domestic production will be decreased due to solar and wind power projects. However, decreasing GDP in 2020 will come from investment of the private and public consumption sectors due to imported commodities resulting from the import of renewable technologies such as solar PV and wind turbines. Employment in the country will increase in 2020 as a result of increased activity in electricity production from domestic biomass.

Results of macroeconomic analyses based on increased energy efficiency of motors and lighting in the industrial sector show no economic stimulus, which will decrease the GDP by 1.25 billion Baht, increase the imported commodities by 1.19 billion Baht and increase the investment of the private and public consumption sector in implementing new motors by 0.83 billion Baht. However, the energy efficiency measures will help decrease the import of fossil fuels and gain more benefit when compared to the decreased GDP and also increase Thailand's energy security.

The analysis covering increased energy efficiency of cooling systems via installation of insulators for building envelopes and of lighting systems via upgraded light bulbs in the building sector shows that there is no increase in economic stimulus, which will decrease the GDP by 18.59 billion Baht, decrease the value of exports by 6.84 billion Baht and decrease the value of imports by 0.49 billion Baht. Moreover, the increased energy efficiency will decrease the private and public consumption sectors by 6.67 billion Baht and domestic production by

18.59 billion Baht. This means Thailand can reduce the amount of imported fossil fuels, which will outweigh the reduced GDP. This also increases Thailand's energy security.

Social Aspect

It is evident that the EE NAMA actions in the residential and commercial building sector will result in reduced energy cost for households and building owners. The social aspect of Thailand's NAMA actions has been assessed as savings per household and saving per unit of electricity consumption of buildings. In the NAMA case of a 20 % CO2 reduction in 2020, it was found that the annual electricity bill saving per household will be around 60 USD. This social aspect of co-benefits shows the positive impact of Thailand NAMA actions, and finally it helps readily adopt EE NAMA actions.

 
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