10 Asian solar markets have 1GW+ pipes as continent dominates project advancement: Fitch

Jun 14, 2021 04:57 PM ET
  • Asia boasts an expanding variety of markets with solar growth pipes in excess of 1GW, a new report by Fitch has found, with the region dominating the working as a consultant's project data source analysis this year.
10 Asian solar markets have 1GW+ pipes as continent dominates project advancement: Fitch
Image: Sunseap

While solar development in Asia is certainly controlled by China, Fitch kept in mind that ten markets in the continent hold solar project growth pipelines over of 1GW.

In overall, Fitch anticipates Asia's complete solar development pipe to stand at 137.5 GW, comparable to 42% of the world's total. However the working as a consultant additionally keeps in mind that its number for China is underrepresented because of a lack of visibility, so Asia's total pipeline-- as well as consequently market share-- is anticipated to be much better.

Asia is tracked by Latin America and Fitch's North America as well as Western Europe (NAWE) area, with the US possessing the single biggest national solar pipe outside of Asia at 40.9 GW. Fitch claimed it anticipated better upside as the Biden administration looks to press with its legislative agenda, which includes a potential ten-year extension of the investment tax credit history for solar projects.

Brazil and Chile, at 34.5 GW and 17.3 GW respectively, are the solar advancement giants within Latin America.

Fitch said it remained to hold a positive expectation for Brazil's solar market with solid development in both dispersed solar and also utility-scale systems despite the nation scoring badly within the working as a consultant's project threat statistics (PRM), which scores a project's possibility of passing through the development phase without interruption.

Brazil has actually been offered a score of ~ 6, below the industry average of 7.0, along with various other below-average performers of India, the Philippines and also Mexico. The Mexican federal government's tempestuous relationship with solar PV is the topic of a feature-length short article in our most recent volume of PV Tech Power, which can be accessed below.

Markets to have actually scored over average in Fitch's PRM consist of the US, China, the UAE as well as Australia, regardless of a recent exodus of solar financiers from the latter.

While Fitch's solar project database does include both solar and focused solar energy (CSP) innovations, PV remains to be the extremely favoured solar energy modern technology, representing 94% of total project capability.

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