Jul 9 2010
A Solarbuzz report has predicted exceptional growth for photovoltaic markets. The report titled “Asia and Pacific Major PV Markets 2010” observes that the photovoltaic markets in the Asia Pacific region is all set to contribute significantly to the market growth for photovoltaics globally in 2010.
The major factor for this situation can be attributed to the environment policy improvements that have been effected in most key nations in this region.
As per report, the emerging country markets that hold the key are India, China, South Korea, Japan and Australia, contributing 0.9 GW capacity of installations in the year 2009 that would amount to 12% of global demand. All these country markets are expected to show exceptional growth in 2010. Moreover, demand across three of these countries is expected to grow by 85%.
The President of Solarbuzz Craig Stevens mentioned that Japan is expected to achieve strong growth this year, given its incentives while the expectations for India and China remain high. He added that the real challenge lies in transforming pipeline projects into reality through incentive policies from the governments.