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This study analysed the greenhouse gas (GHG) abatement cost of renewable energy projects developed through the Clean Development Mechanism (CDM) in China, India and ASEAN countries. The results from this study show that the average abatement cost for all renewable energy technology including biomass, hydro, wind and solar renewable energy in ASEAN countries was the highest among these three countries due to the absence of a “scale of economy,” lower penetration rate of new technology such as PV and wind power, and lower magnitude of grid emission factors. To encourage the implementation of renewable energy in ASEAN countries towards a decarbonised economy, the following research topics could be examined in the future. First, it will be necessary to analyse the “learning curve” for new types of technology, i.e., PV and wind power technology. Second, effective mitigation mechanisms and incentives need to be examined because as the results of this study imply, the magnitude of grid emission factors could affect the abatement cost and business conditions for investments in renewable energies through mitigation mechanisms. Lastly, it is important to discuss the overall policy arrangements since ASEAN countries implement not only feed-in tariffs for renewable energy, but also subsidies for fossil fuels, which provide some advantages to fossil-fuel power plants and affect estimations of CO2 abatement costs. Apparently, climate policies interact so closely with energy policies that it is worth proposing comprehensive climate and energy policies with analytical insights into energy-related technologies and policies in ASEAN countries.