Solar PV demand in Asia-Pacific to outstrip Europe28th Aug 2012
The Asia-Pacific (APAC) region is muscling in on Europe's territory as one of the highest growth areas for solar PV installations.
And the latest stats back it up, with analyst firm SolarBuzz showing an 80 per cent leap year on year for demand in APAC in the second half of 2012.
The Major PV Markets quarterly report highlights the last three months of the year as producing the main bulk of this demand at the 5.3 GW level.
Specifically, the data showed 50 per cent of the entire year's interest in solar PV is expected in the last quarter.
The research comes hot on the tail of an announcement at the recent Clean Energy Regulator and the International Energy Agency show that Australia posted the most solar installations in the world last year.
According to SolarBuzz, its own stats take some of the shine off Europe, which has traditionally been considered a strong closer when it comes to year-end results.
Wolfgang Schlichting, research director at the organisation, said the numbers are a good sign for businesses operating in the solar PV market in APAC countries.
"Strong growth in APAC and other emerging PV markets is providing new impetus for companies active within downstream PV segments," he went on to say.
But it's not all rosy for solar PV installers. In fact, Wolfgang can see some troubles ahead for firms that fail to prepare adequately for the sector as it evolves.
As the global market expands, things will become increasingly competitive for enterprises, he stated.
"The ability to adjust quickly to changing market conditions arising from sudden policy changes, trade action, or competitive strategies will become essential for industry participants," Wolfgang explained.
He also pointed to potential challenges in the short-term business market across the region, with a number of incentive initiatives being introduced and retracted without much notice.
Posted by Mike Peacock