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Asia boasts a growing number of markets with solar development pipelines in excess of 1GW, a new report by Fitch has found, with the region dominating the consultancy’s project database analysis this year.

While solar development in Asia is of course dominated by China, Fitch noted that ten markets in the continent hold solar project development pipelines in excess of 1GW.

In total, Fitch expects Asia’s total solar development pipeline to stand at 137.5GW, equivalent to 42% of the world’s total. However the consultancy also notes that its figure for China is underrepresented due to a lack of visibility, so Asia’s total pipeline – and therefore market share – is expected to be far greater.

Asia is trailed by Latin America and Fitch’s North America and Western Europe (NAWE) region, with the US possessing the single largest national solar pipeline outside of Asia at 40.9GW. Fitch said it expected further upside as the Biden administration looks to push through its legislative agenda, which includes a prospective ten-year extension of the investment tax credit for solar projects.

Brazil and Chile, at 34.5GW and 17.3GW respectively, are the solar development powerhouses within Latin America.

[Liam Stoker]

More: Ten Asian solar markets have 1GW+ pipelines as continent dominates project development: Fitch

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