What are the Key Factors to Facilitate Solar PV Market Increase in the APAC ?

Currently, International Market Research Institute, Technavio published report, the compound annual growth rate of Asian-Pacific Region’s solar pv system is expected to exceed 10% between 2018-2022.
According to the report, the increasing attention of self consumption is anticipated to be the key tendency which accelerates the market increase during predictive period. The distributed-Grid power generation is more and more widespread, this is because the developed Countries have increasing demand for continuous and reliable electric supply and developing Countries are improving the rate of electrization.

At the same time, the cases that Natural disasters destroy continuous electric flow have forced users to look for more reliability and elasticity.
Energy storage and diesel generator have become the common distributed energy among variety of renewable solar pv system power generation. As the technology of solar pv system has the qualification to get reward and subsidy of grid-tie, it is more competitive, therefore, the self consumption is anticipated to increase the utilization of rooftop solar PV system.

The analyst, Technavio emphasize, improving energy permit demand is the key factor to facilitate the market increase of solar pv system in the Asian-Pacific region.

International Energy Agency (IEA) said, nearly 0.439 billion population can’t get electric power in the Asian developing Countries. Providing electrical grid access for everyone need Government to make great investment to electrification projects. However, to provide electrical power for everyone is a long time process, off-grid electrification is the economic choice to improve energy achievement. Such as solar home system (SHS), micro solar system and micro electric grid, these can be implemented in a limited period, to reduce the wastage of electric transmit and distribution, and to increase safety for power supply.

According to explain of Technavio’s electrical analysis senior analyst, “the utilization of solar PV system also provide the benefits for environment and health, because this system has replaced the kerosene lanterns and candle which are widely used in residents. Therefore, under expectation period, improving the demand to get energy and advantages provided by solar energy would push the solar pv market increase in the Asian-Pacific region.”

Non-residential end users have dominated above 79% of market share for solar pv system in the Asian-Pacific region in 2017. Non-residential includes public utilities, commercial and the facilities of industrial department. Residential part mainly includes rooftop solar pv installation, it just has small market share.

The main solar PV Countries in the Asian-Pacific region is China, Japan, India and Thailand. In order to reduce pollution, dealing with climate variety, these Countries have shifted their focuses to renewable energy. Solar power is the main developing tendency among renewable energy. Countries of Asian-Pacific region are positive to make policies to facilitate the development of solar system, the Solar Photovoltaic system would replace fossil fuel to become the main energy in near future. Bingsolar has notified this tendency, and concentrated to develop off-grid solar lighting, home solar system, etc. In order to welcome the brilliant future, Bingsolar has made a lot of achievement to publish more and more lighting systems which are powered by solar.

Bingsolar Power, 1th, June, 2018