ASIA SUN UP 165%

Asia Pacific Solar Photovoltaic Markets Soar 165% in 2011, Led by 2.9 GW of Installations in China
January 25, 2012 (SolarBuzz)

"Asia Pacific photovoltaic (PV) markets continue to surge ahead of expectations, installing 2.8 GW in Q4'11 and a total of 6 GW in FY'11. The region as a whole grew 165% Y/Y, and is forecast to grow an additional 40% in 2012, according to [Solarbuzz]…China has emerged as the dominant force in the region, growing by a blistering 500% over 2010 levels with 48% of 2011 demand. A planned year-end 13% FIT reduction led to a surge in Q4'11 installations, reaching 1.7 GW. Low factory gate module prices and favorable project returns led to a flurry of installations, while the project pipeline has now grown to 20 GW…

"…Q4'11 installations in Japan were up slightly from Q3’11 levels, with residential segment having more than a 70% share of demand. The 2011 Japanese market was up 30% Y/Y, reaching 1.2 GW, and is poised to grow an additional 40% in 2012…[T]he government recently approved a new FIT law aimed at spurring demand for large-scale PV projects…The market is also being reshaped by a dramatic increase in the number of foreign module suppliers."

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"…Installations in India surged 125% in Q4'11, as project developers raced to meet installation deadlines that trigger during Q1'12. Though many of the approved projects are still facing delays, Q1'12 could see more than 600 MW connected to the grid under the National Solar Mission and Gujarat Solar Policies…In 2012, the Indian market could begin to approach 1 GW…

"…The region’s third largest market is trending in a different direction. Australia’s PV installations fell 10% Q/Q. Q1'12 installations are forecast to decline an additional 20%, as the market readjusts to the termination and reduction of a number of incentive policies in 1H'11. The FY'12 market is forecast to fall by 30%; however, the market is forecast to pick up in 2013 as large-scale ground-mounted systems begin to come online…"