New Research: Asia Pacific solar PV market outlook 2021
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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.
- 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.
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- Key findings and report overview
Asia Pacific annual solar PV installation, 2016-2030
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