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PV energy demand strong in APAC emerging markets

Posted: 31 Oct 2013 ?? ?Print Version ?Bookmark and Share

Keywords:PV energy? smart grid? power stations?

According to the latest report from EnergyTrend, a green energy division of TrendForce, Asia-Pacific's PV energy demand is exceeding Europe this year due to emerging Chinese, Japanese and Indian markets. As a result of high growth potential in China and Japan's domestic market, it is estimated the Asia market demand will still be much higher than other markets. Emerging markets in Asia will maintain high stable growth, especially after a two year preparation phase.

In the Asia-Pacific region, Japan and China had the highest PV energy demand in 2013, according to EnergyTrend research manager Jason Huang. Demands in Japan this year soared two to three times compared to 2012, while China benefited from a series of subsidiary policies that will gradually target 6GW, 10GW, 12GW solar power stations from 2013-2015. India and Australia have become the primary regions for stable development in the Asia-Pacific region, while emerging Asia market will require one to two years to develop. Countries including Thailand, Malaysia, Indonesia and Philippines all have good solar energy potential. PV energy demands emerging markets in the Asia-Pacific region will soar at a CAGR of 33.8 per cent before 2017, and will become a major pillar for Asia-Pacific PV energy market development.

The Chinese market has released a series of supportive policies since July including long term installation target, grid-connected regulations, Feed-in Tarrif (FiT), subsidiary period, increase renewable energy funds that will speed up the development of China's PV energy market. China's PV market is developing in two directionslarge solar power stations and distributed systems, said Huang. Although, the distributed PV system will become the main market application in the future, it will take some time before related policies become effective. Therefore, China will still be mostly focused on large power stations in the next two to three years. In contrast, PV subsidiary policies implemented by Japan last year contributed to a huge surge in power stations. Moreover, PV demands are soaring in the country due to increased consumer tax, speed up of power station constructions, and Japan's application as the host country for the 2020 Summer Olympics.

In general, the PV supply chain in 2013 has been particularly hot i n Chinese and Japanese markets. However, four countries in Southeast Asia including Thailand, Malaysia, Indonesia and Philippines are being viewed as potentially emerging PV markets because of ample natural sunlight and economic development demands. These countries not only have implemented FiT policies, they have also established renewable energy installation targets for 2020-2030. There are still risks in emerging markets, though, including political instability, complicated application procedures, and differences in government and electric grid company attitudes. All these factors have affected investors' confidence in investing in local markets.

The 2014 outlook for the solar energy market is continual growth . China, Japan and U.S. market demands account for about 50 per cent of the global market, and solar energy demands are expected to improve with the rebounding European market and rise of emerging markets. Overall, the solar energy market recovery will become increasingly obvious.

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