Solar power is expected to continue growing exponentially across the five key Asian countries (China, India, Japan, the Philippines and Indonesia), with an average of 22% growth each year, positioning the region to become a global hub of solar power. At the same time, Japan stands in third place, having increased capacity from 2.6 GW in 2010 to 74.2 GW in 2021. Currently, India and Viet Nam are ranked 5th and 9th, respectively.

In 2010, India ranked 21st in the world for solar capacity, while Viet Nam ranked 196th.

This will require tailored national policy innovation, investments in energy storage and flexibility, and collective economic and technological cooperation on a grand scale. However, we also expect to see significant growth in India, Indonesia and the Philippines.

This growth will be most pronounced in China, where solar capacity installations alone are expected to reach 1,200 GW by 2030. According to existing national targets across the five major economies (China, India, Indonesia, the Philippines, Japan), we expect to see solar capacity across the region growing at an average of 22% per year until 2030. However, solar power in Asia has the potential to grow rapidly over the next decade. Currently, solar power generates less than 3% of Thailand’s electricity and less than 2% of that in the Philippines. While solar capacity has also grown in the Philippines and Thailand, the increase is marginal. However, its solar capacity still increased from 4 GW in 2010 – only 0.3% from total electricity generation – to 74 GW in 2021, generating 9% of its electricity. Japan has long been a solar leader – consistently ranking in the top five for solar capacity globally in the past 11 years. This has led to significant shifts in how much electricity is being generated by solar power each year. India has also seen incredible growth, increasing its share of solar capacity from 0.07 GW in 2010 to 50 GW in 2021. If that happens, this single year roll out would come close to matching the total existing solar capacity across the US, 1.5 times that of Germany, and over four times that of Australia. In 2022, China is expected to smash last year’s record, and it could add between 75 and 90 GW of new solar to the grid. Over the last decade China, India, South Korea, Viet Nam and Japan have significantly increased the share of solar power in their respective energy mixes.Ĭhina began the decade with only 1 GW of solar power in 2010, and has increased this capacity to 307 GW by the end of 2021, including a record installation of 53 GW of new solar power that year. Asia’s growing energy demand has often been framed through the lens of its coal, gas or nuclear dependence, but solar power is growing rapidly across the region.

Sunny europe catalogue watches