Solarbuzz Asia Pacific Major PV Markets Quarterly Report
Tremendous Surge in Asia Pacific PV Market
Asia Pacific photovoltaic (PV) markets continue to surge ahead of expectations, installing 2.8 GW in Q4’11 and a total of 6 GW in FY’11. According to Solarbuzz the region as a whole grew 165% Y/Y, and is forecast to grow an additional 40% in 2012.
According to Solarbuzz 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. A planned year-end 13% FIT reduction led to a surge in Q4’11 installations, reaching 1.7 GW. Low factory gate module prices and favorable project returns led to a flurry of installations, while the project pipeline has now grown to 20 GW. “The China PV market was reshaped in 2011 by the release of the national FIT,” said Ray Lian, Analyst at NPD Solarbuzz, “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.” In 2011, Japan was the second largest regional market in Asia Pacific, followed by Australia and India. Japan grew 30% in 2011, istallations in India surged 125% in Q4’11.