Japan solar installs surge 270%

June 4, 2013 | By Barbara Vergetis Lundin

Japan's solar installations surged by a staggering 270 percent in the first quarter of 2013, positioning the country to surpass Germany to become the world's largest photovoltaic (PV) market in terms of revenue this year, according to IHS researchers. Despite the huge percentage jump, Japan is predicted to install fewer gigawatts than China, who is forecast to be the largest market in terms of gigawatts installed in 2013.

View the full-size image. Credit: IHS

A total of 1.5 GW of solar capacity was installed in Japan in the first quarter of 2013, up from 0.4 GW during the same time last year, according to IHS. The phenomenal growth is expected to continue throughout 2013 as demand for solar energy is forecast to double, making Japan the world's largest market for PV installations on a revenue basis for the first time in a decade. Japan's share of global PV system revenue will rise to 24 percent in 2013, up from 14 percent in 2012 and just 9 percent in 2011, according to IHS.

"Following the earthquake and tsunami in 2011 that led to the shutdown of nuclear facilities and a shortage of electricity, Japan has aggressively moved to promote solar energy," said Sam Wilkinson, solar research manager at IHS. "Japan's government has introduced a highly attractive feed-in tariff (FIT) to help stimulate solar growth. In contrast, the European market that historically has led global solar demand is slowing as regional market conditions become less attractive. The deceleration in Europe and the implementation of the FIT in Japan are combining to propel the country to the top of the global solar market this year."

Japan is forecast to install $20 billion worth of PV systems in 2013, up 82 percent from $11 billion in 2012. In contrast, the global market is set for tepid 4 percent growth. Germany, which held the top spot from 2009 through 2012, will fall to third place this year, behind Japan, IHS contends.

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