(SeeNews) - Dec 19, 2013 - China, Japan, India, Australia and Thailand will be responsible for nearly 50% of the global solar photovoltaic (PV) demand next year, NPD Solarbuzz says in a new report.
Overall, the Asia-Pacific region is expected to add more than 23 GW of PV capacity in 2014 and 95% of that will go to the top five markets. For comparison Asia-Pacific PV installations will stand at some 18 GW in 2013, with China and Japan bringing 85% of the total.
The Asia-Pacific will account for some 50% of global demand for 2014 and it will also be the source of over 80% of module production. “This milestone marks the final chapter in the transition from historic European domination to a new PV industry, where supply and demand from APAC will determine the basis of the 50 GW global PV industry going into 2015,” said NPD Solarbuzz analyst Steven Han.
The market research specialist points to Thailand as the next major destination for solar PV in the Asia-Pacific region thanks to the government’s efforts to install 800 MW of community-based PV and 200 MW of solar rooftops in 2014. By 2021 Thailand wants to sources from renewables 25% of its power.