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China has emerged as the dominant force in the region, growing 500% over 2010 levels with 48% of 2011 demand. A planned year-end 13% FIT reduction led to a surge in 2011 fourth quarter 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.
“The China PV market was reshaped in 2011 by the release of the national FIT,” said Ray Lian, analyst, NPD Solarbuzz. “Approximately 1 GW ground-mount projects were installed in the Qinghai province alone. However, the explosive growth could well be followed by policy adjustments in 2012 as the Chinese central government takes action to control the growth rate.”
For more information, visit www.solarbuzz.com.