How to Cope With Energy Demand Capital Scarcity Evidence has so far been adduced for an electricity sector growing faster than GDP. It would be normal in such circumstances to suppose that the capital investment required to support a continued expansion at this rate would also grow faster that GDP and therefore would take an increasing share of GDP. If this were so, then it would be serious because electricity generation is capital intensive, and the burden would be heavy. In ASEAN, the present level of electrification is lower than that of industrialized countries. Therefore the share of fuel used for electricity generation in the region is much lower than that in industrialized countries, although it would increase dramatically in the coming decades. Recent growth rates in installed electric power capacity, as well as in the planned or estimated installation for the rest of this century are shown in Table 5 below. Obviously these rates exceed economic growth rates.
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