BEIJING (Commodity Online): Photovoltaic (PV) installation in Asia-pacific region touches 6 GW in fiscal 2011-12, growing 165% Year-on-Year while in India it surged 125% in Q4'11. according to the latest NPD Solarbuzz Asia Pacific Major PV Markets Quarterly report.
China has emerged as the dominant force in the region, growing by a blistering 500% over 2010 levels with 48% of 2011 demand.
“The China PV market was reshaped in 2011 by the release of the national FIT and 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.” said Ray Lian, Analyst at NPD Solarbuzz.
Japan is the second largest regional market in Asia Pacific, followed by Australia and India.
Japan grew 30% in 2011, with higher growth expected in 2012, while, Australia PV installations shrinking as incentives are reduced.
The region’s third largest market is trending in a different direction. Australia’s PV installations fell 10% Quarter on Quarter.
Meanwhile, installations in India surged 125% in Q4'11, as project developers raced to meet installation deadlines that trigger during Q1'12. Though many of the approved projects are still facing delays, Q1'12 could see more than 600 MW connected to the grid under the National Solar Mission and Gujarat Solar Policies.
Other emerging markets in Asia accounted for an additional 500 MW of demand in 2011, largely driven by Thailand, Korea and Taiwan.
