REGIONALOUTLOOK
Regional variations
Analysts have difficulty determining growth rates for a global PV market. This has more to do with constantly changing dynamics rather than smudges on crystal balls. A key issue that makes it difficult to predict global future growth is the constant change in subsidies occurring at the local and regional level. Data released for an upcoming conference in South Korea shows that regional changes are the key to understanding potential markets.
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Buddha in the Sinheungsa Temple in Seoraksan National Park, South korea
he expectation for the solar industry is for steady and strong growth for a
number of years. The rate of length of this growth is debatable and there are as many different viewpoints as there are analysts. In 2011 alone the global industry is expected to increase installations at least 45% from 2010. These sorts of figures are bandied around so shareholders can be assured that their investments continue year to year growth. The overall growth may be true but it says very little about market opportunities for the solar and PV industries.
Most industries reveal global figures and it can be expected that most regions will grow at a similar rate as the overall. This is not true in a subsidy driven industry where some countries will introduce their incentives as others are pulling back. An awareness of the regional differences is more likely to provide the market analysis required to plan growth in a particular region. Many companies are realising this and conferences and events now have to identify regional opportunities rather than base global market details. South Korea will host EXPO solar at the start of 2011 and like other regional conferences are having to position themselves as regional and/or global exports. The Korean market has grown to become the 4th largest in the world and the government regulations and subsidies that have spurred this growth and technology acceptance is well worth reviewing.
Korean direction The government of South Korea enacted a very sturdy policy to develop renewable energy sources with tight time lines for success including PV energy through to LED street lighting. The robust approach has spurred the
www.solar-pv-management.com Issue V 2010
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