The average annual growth rate of photovoltaic demand in emerging Asian countries is 28%

Published on: December 31, 2021 read: 0 source: Youxin International

NPD Solarbuzz's latest report on emerging solar markets in Asia Pacific and Central Asia points out that the demand for solar power in emerging Asia Pacific and Central Asia is expected to exceed 3gw by 2017. Compared with 723mw in 2012, the demand growth is very strong, with a compound annual growth rate of 28%.

NPD Solarbuzz's latest report on emerging solar markets in Asia Pacific and Central Asia points out that the demand for solar power in emerging Asia Pacific and Central Asia is expected to exceed 3gw by 2017. Compared with 723mw in 2012, the demand growth is very strong, with a compound annual growth rate of 28%.

"In the past, solar energy applications in the Asia Pacific and Central Asia region mainly focused on solar lighting and housing." Han Qiming, an analyst at NPD Solarbuzz, said, "but the future demand for solar energy will come from the wide use of large ground power plants. By 2017, the number of ground-based installations will account for 64% of the total solar power generation in the 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, it has diversified policies and various end market drivers. As Southeast Asia is widely regarded as the central hub of upstream manufacturing of solar energy industry, and policy makers have a deeper understanding of solar power generation, they also learn from the mature experience of the policy development of European Photovoltaic Market in the process of policy formulation.

Solar demand in Asia Pacific and Central Asia mainly comes from Thailand, Malaysia, Philippines, Indonesia and Taiwan, China. From 2013 to 2017, the solar energy demand of these five countries is expected to account for 50% of the total demand.

Thailand is expected to become the largest single market in the region, driven by the rapid growth of power demand and financial pressure to reduce energy imports.

Indonesia has formulated a long-term solar power generation plan, which is expected to increase the proportion of solar power generation to 0.3% by 2025, which is about 1GW of new solar energy demand; With the help of the incoming electricity price to be implemented soon, Indonesia will become the second largest solar energy market in Southeast Asia by 2017; China and Taiwan also list solar power as a priority for renewable energy targets.

In the next few years, more countries in the Asia Pacific and Central Asia will increase their demand for solar energy. At the end of 2012, the Philippines announced a cumulative solar energy installation project of more than 500MW, mainly from strong investment from Japan and South Korea; Bangladesh is already the world's largest off grid solar market, and plans to install one million new solar power systems by the end of 2016; Kazakhstan plans to install 77mw solar power plants in the next few years; Pakistan also announced the deployment of 500MW solar power.

"Although ensuring adequate financing for solar power projects is still a challenge, the overall solar power demand in Asia Pacific and Central Asia is expected to account for 5% of the world in 2017, reaching 5GW." Han Qiming added.