Asia Pacific photovoltaic markets are poised to make a significant contribution to global photovoltaic market growth in 2010 following improvements in the policy environment in most of the key countries in this region in 2009. The key emerging country markets of China, India, South Korea and Australia, together with the long established Japanese market, contributed 0.9 GW of installations in 2009, or 12% of world demand. After a policy-led reduction in demand in South Korea last year, all five of these country markets are now expected to return to growth in 2012.
India’s off-grid rural segment the largest PV market segment in the country
- The India PV market grew 22% Y/Y, reaching 44 MW in 2009. Despite this, the growth was lower than expected, with incentive programs lacking success.
- The Ministry of New and Renewable Energy (MNRE) released its National Solar Mission, outlining planned growth of the PV market to 20-22 GW by 2022.
- While the global financial crisis had a moderate affect upon government funds allocation, national elections during 2010 slowed several government bureaus to a halt, delaying procurement and distribution activities until later in the year. Nonetheless, the project pipeline stands at 5.9 GW at June 2011.
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