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On-going Global Struggle to Reduce Emissions Necessitates Large-scale Adoption of Solar PV Systems in Southeast Asia Finds Frost & Sullivan  - New analysis from Frost & Sullivan, Southeast Asian Solar PV Systems Market Outlook, finds that the solar PV systems market earned revenues of $99.6 million in 2009 and estimates this to reach $254.8 million in 2016
On-going Global Struggle to Reduce Emissions Necessitates Large-scale Adoption of Solar PV Systems in Southeast Asia Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Singapore, Singapore, 2010/02/02 - New analysis from Frost & Sullivan, Southeast Asian Solar PV Systems Market Outlook, finds that the solar PV systems market earned revenues of $99.6 million in 2009 and estimates this to reach $254.8 million in 2016.

   
 
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Solar photovoltaic (PV) systems provide the ideal environment friendly power generating solution for electrifying remote rural areas in power deficient areas of Southeast Asia as it is neither technically nor economically viable to extend grid coverage to certain isolated areas. In addition, urban end-users' growing preference towards adopting sustainable energy solutions has accelerated the adoption of solar PV systems, particularly for roof-tops and buildings. Furthermore, strong government support through policies, feed-in-tariff schemes and other deployment programs have resulted in gradual uptake of solar PV systems both for on-grid and off-grid application.

New analysis from Frost & Sullivan (energy.frost.com), Southeast Asian Solar PV Systems Market Outlook, finds that the solar PV systems market earned revenues of $99.6 million in 2009 and estimates this to reach $254.8 million in 2016 due to increasing awareness about environment friendly power generating technologies, global decline in prices, strong government support for renewable energy and use of solar power for rural electrification purposes.

"Favorable topography with adequate solar radiation throughout the year coupled with policies and regulations from the government are likely to expand market opportunities during the next five to seven years Southeast Asia especially in countries such as Thailand, Malaysia, and the Philippines," says Frost & Sullivan Program Manager Suchitra Sriram. "The introduction of feed in tariff is expected to be a big stimulant for on-grid solar PV system installations for both distributed and centralized solar power plants."

Market trends indicate burgeoning demand owing to strong governmental commitment to the promotion of solar energy and creation of sustainable cities. Besides increasing commitment from local governments, solar PV systems for rural electrification projects are likely to be driven by active participation of non-governmental organizations and availability of funds from international financial agencies, and involvement of local communities.

However, market penetration of solar PV systems has been challenged by the high cost of installation as the majority of customers fall under the low-income group. Thus, market growth is heavily dependant on government support in terms of policy guidelines, tax credits, subsidies or rebates. Solar PV systems market growth will continue to rely on government support until the price reaches grid parity. Moreover, the well developed power infrastructure deters the use of solar PV systems in some urban areas.

The global financial crisis did not have a major impact on the solar PV systems market in Southeast Asia. However, due to the ripple effects of the financial crisis on the key global solar power markets, the economic viability of some PV projects diminished because of lack of credit from banks, financial agencies and donor countries. Weak economic conditions have prevented customers from installing expensive onsite power projects. Another factor that contributed to restrained market momentum was the extensive use of diesel fired generator sets and other low-cost renewable energy technologies.

To rev up the pace of growth of the solar PV systems market in the Asia Pacific region, it is vital for countries to establish realistic targets, streamline the policy framework, and aggressively boost customer awareness. Going forward, as production costs decline and solar PV systems gain traction, installation costs are expected to reduce and pave the way for large-scale commercialization. This, in turn, will attract new entrants across the solar industry value chain.

"Considering the highly competitive nature of the market, it is imperative for system integration companies to focus on enhancing growth by establishing a strong technical workforce and providing high-quality PV components," says Sriram. "Also, participants must ensure on-time delivery of products and provide superior value-added maintenance services to outpace competition."

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Southeast Asian Solar PV Systems Market Outlook is part of the Energy & Power Growth Partnership Service program, which also includes research in the following markets: Asia Pacific Flexible Alternating Current Transmission Equipment Markets, Asia Pacific Low Voltage Switchgear Market, APAC Power Rental Market, Asia Pacific Stationary and Portable Fuel Cell Market, Asia Pacific Medium and High Voltage Switchgear Market, SEA CDM Market - Opportunities for Equipment Suppliers, and APAC Generator Sets Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

Southeast Asian Solar PV Systems Market Outlook / P349

 
 
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On-going Global Struggle to Reduce Emissions Necessitates Large-scale Adoption of Solar PV Systems in Southeast Asia Finds Frost & Sullivan

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