Posts Tagged ‘Asia’
China’s solar PV demand sunk 23 percent in 1Q13 to 6.2 gigawatts (GW), driven by seasonality and policy incentive deadlines. Chinese demand largely drove a burnoff in upstream inventory accumulated over several quarters, but repetitive swings in Chinese demand over the next year will emphasize the need for smart capacity utilization and inventory control, according to SolarBuzz analyst Michael Barker in a recent report.
Suntech has managed to delay a major bond payment for another two months until May 15, but there’s still considerable buzz surrounding the company and this $ 541 million debt deadline, widely anticipated as a major test of China’s drive to consolidate its solar industry.
India is targeting a deficit target of 5.3 percent of its GDP for the fiscal year ending March 31, 2013, but at current spending India will fall short by about 20%, or roughly 2.06 trillion rupee. Among the measures to hit that target are a reduction in subsidies, which has implications for the solar market, reports Bridge to India’s Jasmeet Khurana.
Information coming out of China about its renewable energy plans, and prospects for both domestic and international suppliers hoping to continue riding one of the world’s most optimistic growth markets, have commanded headlines in the early weeks of 2013.
Shares in Chinese solar companies soared after the government allocated a further 7 billion yuan ($ 1.1 billion) of subsidies for domestic installations this year, taking the year’s total to 13 billion yuan ($ 2 billion), according to the official Xinhua News Agency.
India has released a draft version of phase two of its Jawaharlal Nehru National Solar Mission (JNNSM), which lays out ambitions to build 9 GW of grid-connected solar plants by 2017 – more than eight times its current capacity.
India’s installed wind power capacity is expected to reach 89 GW by 2020 and 191 GW by 2030, according to a new report. This expansion in wind power is expected to attract $ 16.5 billion of annual investment, create 179,000 jobs and abate 179 tonnes of CO2 annually, the Wind Energy Outlook reported.
China dominated the global wind market in 2011, installing three times as many wind rotor blades on its wind farms than the U.S., its closest rival.
China’s beleaguered solar panel makers took another hit this week, announcing either shipment downgrades or job cuts in response to global oversupply and higher production costs tied to recent import tariffs imposed by the U.S. government.
Renewable energy sources could rapidly expand to provide 40 percent of Australia’s energy needs by 2035 and 85 percent by 2050 and virtually eliminate coal-fired power stations, the nation’s government said in its long-delayed energy white paper.