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In the past year, the Asian market has overtaken Europe to become China's largest exporter of photovoltaic (PV) products. On March 25, at the Intersolar China 2014 seminar, Sun Guangbin, secretary general of the Solar Energy Products Branch of the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, highlighted that in 2013, the Asian market accounted for nearly 50% of China’s PV exports, marking its rise as the leading export region. This trend continued into January–February 2014, with Asia’s share increasing further.
The surge in demand from emerging markets has allowed some Chinese PV manufacturers to regain momentum and plan for capacity expansion. Industry professionals remain optimistic about the long-term potential of the Asian market. However, despite the rapid growth, challenges loom beneath the surface.
Japan and India have been key drivers of the Asian PV boom. Japan, in particular, has seen a significant shift following the Fukushima nuclear disaster in 2011, which led to a push for renewable energy. The Japanese government introduced attractive feed-in tariffs, making solar power more appealing. As a result, Japan became a major buyer of Chinese PV equipment, with exports rising by over 200% in 2013. The country’s installed solar capacity jumped from 2.5 GW in 2012 to 7.5 GW in 2013, with a large portion of this coming from Chinese suppliers.
India, too, has emerged as a critical market. With a growing energy demand and environmental concerns, the Indian government has pushed for increased solar adoption. In 2013, India became China’s second-largest PV export market, with exports surging by 175%. Although the installed capacity remains relatively low, the potential is vast, with projections suggesting it could reach 34 GW by 2022.
However, the sustainability of this growth is uncertain. Japan faces policy adjustments, including reductions in feed-in tariffs, which may slow down future installations. Similarly, India struggles with policy instability, high financing costs, and limited grid infrastructure. These factors could hinder long-term development.
Despite these challenges, many industry experts believe the Asian market will continue to grow. Companies like Yingli and Artes are expanding their presence in Japan, aiming for higher export shares. Analysts like Li Junfeng and Sun Guangbin argue that Japan’s transition away from nuclear power and reliance on solar energy will sustain demand for years to come.
Nonetheless, the path ahead is not without risks. South Korea, another regional player, is also ramping up its solar capacity, potentially competing with Chinese manufacturers. As the global solar market evolves, China’s PV industry must navigate both opportunities and uncertainties in the Asian market.