Asia Pacific to install 5.3GW of PVs in Q4: Research

The Year-on-year growth of PV markets in Asia-Pacific is expected to be around 80%, with 50% of it occuring in the fourth quarter, according to a research.

The 50% is equivalent to 5.3GW.

The research featured in the NPD Solarbuzz ‘Asia Pacific Major PV Markets Quarterly’ stated that this is brought about by a geographical shift in PV demand from Europe to the Asia Pacific.

Key markets driving growth include; China, India and Japan.

NPD Solarbuzz said that the APAC region had already experienced rapid growth, notably in the second quarter of this year with 1.4GW installed, greater than 60% growth, year-on-year.

In particular, PV market demand in China grew by over 300% in Q2’12 to reach 0.6 GW, stimulated by deadline requirements for the completion of Golden Sun PV projects.

“Strong growth in APAC and other emerging PV markets is providing new impetus for companies active within downstream PV segments,” noted Wolfgang Schlichting, Research Director at NPD Solarbuzz.

However, the market research firm warned that aside from Japan with its attractive FiT, APAC is characterised by highly-competitive pricing with low-margin returns. Challenges also exist in project delays for utility-scale projects, often connected to financing issues. Delays in developing projects in China in the first-half of the year were a recurring theme from Chinese PV manufacturers during second quarter financial reporting.

NPD Solarbuzz believes that any further delays in project financing could result in a module oversupply situation worsening at year-end and ahead of a seasonally-driven downturn in the first quarter of 2013.

The Europeanmarket grew 32% to 8.5GW in installed PVs, compared to the first-half of 2011. However, incentive reductions in Germany, Italy, and other major European PV markets continue to erode the demand-share previously commanded by these former PV market leaders.Growth within Europe is expected to shift to emerging markets during the next couple of years, including Austria, Denmark, Israel, and various countries in the east and southeast of Europe.

For more.

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