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North East Asia Solar Energy Market and Outlook 2019-2029 by Installed Capacity, Demand, Project Capacity - ResearchAndMarkets.com

November 15, 2019

DUBLIN--(BUSINESS WIRE)--Nov 15, 2019--

The “North East Asia Solar Energy Market Size and Outlook Report by Installed Capacity, by Demand, by Project Capacity (2019-2029)” report has been added to ResearchAndMarkets.com’s offering.

The solar energy market in North East Asia has shown remarkable growth, mainly driven by China. Over the past few years, China has taken over all other countries in clean and eco-friendly energy in terms of installed capacity, including solar projects.

China is currently considered the leader in the solar market with many major companies expanding their business globally. The Chinese government is continuously trying to support the sector further by providing various incentives. Some new laws are passed in China to control carbon emissions and to reduce dependency on petroleum-based products. By toughening regulations around electricity produced from fossil fuel, renewable sources like solar energy will likely to gain more market share.

Japan, South Korea and Taiwan are also active in promoting solar energy. Japan plans to increase the electricity generation mix mostly from solar PV, but it is still facing some several challenges in promoting its domestic solar PV industry. The cost of solar system installation and generation are still high. In addition, the grid and land availability are the other two factors responsible for slow growth in the PV market.

The Japanese government is investing heavily in solar energy with the introduction of feed-in-tariff and subsidies. It has been a global player working across the entire value chain including polysilicon, ingot, wafer, cells and module producers. Japan is mainly focusing on the export of solar panels as the domestic installation level is lower than annual production.

South Korea is trying to increase its renewable power share. It has a strong solar PV manufacturing industry base. It plans to cut its dependence on nuclear power, which would help solar PV adoption. The Korean government introduced a feed-in tariff system, making it compulsory for power generation companies to purchase electricity produced from solar panels. South Korea is also encouraging power generation companies to invest in building large scale solar power plants.

Key Topics Covered:

Forecast Segmentation

For more information about this report visit https://www.researchandmarkets.com/r/1zjzwa

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KEYWORD: ASIA PACIFIC

INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/15/2019 06:21 AM/DISC: 11/15/2019 06:21 AM

http://www.businesswire.com/news/home/20191115005173/en