Asia-Pacific PV market to grow 130% Y/Y in Q4 2011

Nov 22, 2011 - The photovoltaic (PV) market in the Asia-Pacific region is expected to grow by 130% on the year and 39% quarter-on-quarter in the fourth quarter of 2011, with forecast newly added capacity of 2 GW, according to a report by solar market researcher Solarbuzz.

The newly released Asia Pacific Major PV Markets Quarterly report says the Asia-Pacific region is set to grow by 45% in 2012, on the back of new capacity targets launched by the governments of Asian countries.

The share of non-residential ground-mounted systems in the regional market is seen to have grown to 64% by the fourth quarter of 2012 from 16% in the first quarter of 2011. The residential segment will experience a decline to 20% by the fourth quarter of 2012 from 58% in the first quarter of 2011.

China, which has lately raised its cumulative solar capacity goal for 2015 to 15 GW from 10 GW, is expected to account for 45% of regional demand in the fourth quarter of 2011 and to surpass both the US and the Japanese markets by size in 2011.

The Indian market is supported by national incentive programmes, while the Japanese market growth is backed by its new feed-in tariff programme. Other emerging markets such as Taiwan, South Korea, Thailand and Malaysia are expected to bring additional total demand of 700 MW in 2012.

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