Asia Pacific solar photovoltaic markets soar

Asia Pacific solar photovoltaic markets soar

Asia Pacific photovoltaic markets continue to surge ahead of expectations, installing 2.8 gigawatts (GW) in the fourth quarter of 2011, and a total of 6 GW overall in 2011. The region as a whole grew 165 percent in 2011, compared to the previous year, and is forecast to grow an additional 40 percent in 2012, according to the latest NPD Solarbuzz Asia Pacific Major PV Markets Quarterly report.

China has emerged as the dominant force in the region, growing 500 percent compared to 2010 levels with 48 percent of 2011 demand. 

"The China PV market was reshaped in 2011 by the release of the national FIT," said Ray Lian, analyst at NPD Solarbuzz, in a press release. "Approximately 1 GW ground mount projects were installed in the Qinghai province alone. However, the explosive growth could well be followed by policy adjustments in 2012 as the Chinese central government takes action to control the growth rate."

In 2011, Japan was the second largest regional market in Asia Pacific, followed by Australia and India.

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Topics: Photovoltaic / Solar Panels, Solar Power


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