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We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

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New Research: Asia Pacific solar PV market outlook 2021

Download the executive summary

1 minute read

The Asia Pacific region offers the most substantial opportunities for solar PV investments globally. The total installed capacity is expected to triple to 1,500 GW in 2030 compared to 430 GW in 2020. China will remain the largest regional and global market, adding 619 GW between 2021-2030. India will come second, adding 138 GW between 2021-2030. Both utility-scale and distributed solar offer sizable opportunities as annual installations are shared almost equally between the two segments.

Key takeaways:

  • Asia Pacific solar capacity will triple in the next decade to reach 1,500 GW by 2030. Falling costs and more supportive policies are driving solar power growth in all markets. An average of 92 GW solar will be installed annually to 2025 and increase further to 121 GW in 2025 to 2030.

  • Policies are evolving to overcome market barriers, enabling Asia Pacific’s solar generation share to grow from 4% in 2020 to 10% in 2030. 

  • By 2030, 51% of new installs in the top 10 Asia Pacific markets will be distributed solar due to land constraints and improving competitiveness against rising tariffs.

Read the press release here.

Complete the form on this page to download theexecutive summary, which includes:

  • Key findings and report overview

  • Asia Pacific annual solar PV installation, 2016-2030

  • Information on how to access the report