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In the past year, the Asian market has overtaken Europe as China's top exporter of photovoltaic (PV) products. According to 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, during a seminar at Intersolar China 2014, Asia accounted for nearly 50% of China’s PV exports in 2013, marking its rise as the largest export destination. In the first two months of 2014, the share of the Asian market increased further.
This surge is driven by growing demand in emerging markets, prompting some Chinese PV manufacturers to start expanding their production capacity. Industry professionals remain optimistic about the long-term potential of the Asian market. However, despite the rapid growth, there are underlying challenges that could affect sustainability.
Japan and India have been key drivers of the Asian PV boom. Japan’s aggressive solar policies, following the Fukushima nuclear disaster, led to a significant increase in solar installations. The country imported over 54% of its PV systems from China in 2013, generating $3 billion in revenue for Chinese exporters. Meanwhile, India’s renewable energy push has also boosted PV exports, with China becoming its second-largest export market in Asia.
Despite these positive trends, concerns remain. Japan is expected to reduce its feed-in tariffs, which may slow down project development. India faces policy uncertainty, high financing costs, and limited grid infrastructure. Additionally, South Korea is emerging as a strong competitor in the region, with plans to significantly expand its solar capacity by 2035.
While the Asian market shows promise, the sustainability of this growth depends on continued government support, stable policies, and effective grid integration. For now, it remains a crucial market for Chinese PV manufacturers, but the road ahead is not without obstacles.