Asia Pacific world champions in Solar!

Asia Pacific is all set to become solar champions in the second half of 2014. China and Japan continue the unabated construction of solar projects, but other than these two countries others like India, Thailand and Australia are expected to be large contributors. according to a research by NPD Solarbuzz, Asia Pacific will account 60% of the total PV demand in H2 2014, with 95% contributed by these countries. China and Japan are the key players.

China, Japan the biggest contributors in PV installations

China is all set to become the leader in PV installations and has announced a solar target of 40 GW by 2015, after the initial target of 5 GW. China will be concentrating on ground mounted projects and these will contribute 80% of the total PV installations in China. However the state also plans to lay emphasis on rooftop installations.

Japan is expected to instal more than 5 GW of solar in the later part of 2014. The country offers attractive feed in tariffs and falling PV costs acts like a cherry on the cake.

For major companies like Jinko Solar (JKS), JA Solar (JASO), Renesola (SOL) and Trina Solar (TSL) China and Japan have become the major importers of solar cells and modules. These companies are hopeful of retaining the position in the later half of 2014 as well.

India is also treading on the solar path steadily, with National Solar Mission Phase II opening the bidding process for PV projects under Batch II. For developing economies like India, solar is definitely the answer for the masses as it is affordable, abundant and green!

A lot is going around in the Asia- Pacific region and PD Solarbuzz is positive on the region becoming the solar capital globally.

Source: PV-Tech