Japan’s solar installations surged by a stunning 270% (in gigawatts (GW)) in the first quarter of 2013, positioning the country to surpass Germany to become the world’s largest photovoltaics (PV) market in terms of revenue this year.
Although Japan is forecast to install fewer GW than China (which is forecast to be the largest market in GW installation terms) in 2013, the high prices of PV systems in Japan will drive it to become the world’s largest market in revenue terms. A total of 1.5 GW worth of PV systems were installed in Japan in the first quarter of 2013, up from 0.4 GW during the same time last year, according to a new report entitled “The Photovoltaic Market in Japan” from information and analytics provider IHS Inc.
This again proves that the global PV market is changing fast with new markets driving global demand. South Africa is adding to the trend with their large solar PV installation programs.