NPD Solarbuzz's newly released report on the emerging solar market in Asia Pacific and Central Asia indicates that by 2017, the demand for solar power generation in the emerging Asia-Pacific and Central Asia region will exceed 3GW, which is very strong compared to the 723MW demand growth in 2012, with a compound annual growth rate of 28 %.
"In the past, solar energy applications in Asia-Pacific and Central Asia were mainly concentrated on solar lighting and residential." NPD Solarbuzz analyst Han Qiming said, "But future solar demand will come from the widespread use of large ground power stations. By 2017, ground-based installation The amount will account for 64% of the total solar power generation in Asia Pacific and Central Asia."
The demand for solar power generation in Asia Pacific and Central Asia is still highly fragmented and similar to other emerging solar markets, with diverse policies and various end market drivers. Since Southeast Asia is widely regarded as the central hub for upstream manufacturing in the solar industry, policy makers have a deeper understanding of solar power generation. Therefore, the mature experience of European PV market policy development is also used in the policy formulation process.
Asia-Pacific and Central Asia solar energy demand mainly comes from Thailand, Malaysia, Philippines, Indonesia and Taiwan. From 2013 to 2017, it is expected that the solar energy demand of these five countries will account for 50% of the total demand.
Thailand is expected to be the largest single market in the region, mainly driven by the rapid growth of electricity demand and financial pressure to reduce energy imports.
Indonesia formulates a long-term solar power generation plan, and it is expected to increase solar power generation to 0.3% of the energy proportion by 2025, which is about 1GW of new solar demand; with the upcoming on-grid electricity price, Indonesia will become the second largest in Southeast Asia by 2017 Solar energy market; Taiwan and South Korea also listed solar power as a priority option for renewable energy targets.
In the next few years, more countries in the Asia-Pacific and Central Asia region will increase their demand for solar energy. At the end of 2012, the Philippines announced cumulative solar installation projects of more than 500MW, mainly from strong investments in Japan and South Korea; Bangladesh is already the world’s largest off-grid solar market, and plans to add one million solar power generation systems by the end of 2016 Installation; Kazakhstan plans to install 77MW solar power plants in the next few years; Pakistan also announced that it will have 500MW of solar power deployment.
"Although securing sufficient solar power project financing is still a challenge, the overall solar power demand in Asia-Pacific and Central Asia is expected to account for 5% of the global total in 2017, reaching 5GW." Han Qiming added.
(Source: Internet)
