Asia-Pacific PV market will grow by 130% China demand will account for 45%

Overview of solar photovoltaic development, the latest data show that the Asia-Pacific region is gradually becoming the largest market for solar photovoltaic power generation. According to Solarbuzz's research report on Asia-Pacific's major photovoltaic market, the Asian PV market is expected to grow by 39% in the fourth quarter of 2011. Historical data show that in the fourth quarter of this year, the Asia-Pacific region will increase by 130% from the same period of last year. Of course, the most striking data in the report is that China will account for 45% of demand in the fourth quarter of the Asia Pacific region. The increase in demand in China stems from the recent adjustment by the National Energy Administration of the PV installation target from 10GW in 2015 to 15GW.

China is not the only country in Asia that is ambitious to pursue clean energy goals. India’s national incentive program also helps to boost demand in the Asia Pacific region. In both of the world’s largest and growing economies, the needs of these two countries are driving the development of utility-scale projects. According to Solarbuzz, the non-residential ground installation system in the Asia-Pacific region will account for 64% of the market by the end of 2012. At the beginning of this year, this portion accounted for only 16%.

A Solarbuzz analyst Christopher Sunsong said that the Asian market has filled the gaps in the market, and as the European market has subsided, the Asian market has become the focus of many international companies seeking to expand. Sunsong also warned that these companies will face a lot of obstacles, and this emerging market has too much potential.

The current market growth is being eroded by the sharp drop in component prices, which led to market consolidation, such as the collapse of Solyndra, which also led to a trade war between the United States and China.

Major U.S. government officials, such as the Minister of Energy Zhu Xiwen, recognize the importance of emerging clean technology markets such as the solar industry. Zhu Shuwen has been trying hard to lobby the government to create incentives for U.S. companies so that they can not only develop their needs in the country but also apply the technology in the Asia Pacific region.