GiiResearch.com: Solar PV in Asia - Renewable Energy to be Fastest Growing Market in Malaysia
Investments in solar PV power projects for 2012 is estimated at US$72 million, a 194% growth over 2011 and close to 12 MW of solar PV power is to be added in 2012, a massive year-on-year increase of 242.9%.
Hartford, CT, December 14, 2011 --(PR.com)-- Global Information, Inc. (GII) presents "Global Solar Power Market" by Frost & Sullivan.
The implementation of feed-in-tariff (FiT) policy will bring the required momentum to accelerate solar PV market growth in Malaysia. Malaysia aims to become the second largest producer in solar manufacturing by 2020 and is emerging as the favored country for new PV manufacturing units.
Investments in solar PV power projects for 2012 is estimated at US$72 million, a 194% growth over 2011 and close to 12 MW of solar PV power is to be added in 2012, a massive year-on-year increase of 242.9%.
According to Ravi Krishnaswamy, Vice President of Energy & Power Systems, Frost & Sullivan Asia Pacific, banks are actively considering large-scale solar power projects as the next wave of investment option as they are well-equipped to understand risks better now.
Government support through a subsidy rationalization program that gradually removes subsidies from items such as fuel, gas, electricity and tolls bring their rates close to market rate, making solar power look less expensive in the long term.
"Falling global prices for PV modules could also aid the growth of grid connected solar market in Malaysia," he said.
Conventional Power and Utility will remain the Largest Market
The shortage of gas will continue till Q3 2012 and is expected to get better after the commissioning of Malaccas regasification project.
Krishnaswamy commented, "However the recently agreed cost sharing mechanism between TNB, Petronas and the Malaysian government, will alleviate TNBs position. TNB will be looking to diversify its source of power in order to overcome supply challenges with any one fuel source."
"Approval for tariff hikes in tandem with gas price increase will help TNB to strengthen its financial performance and thus focus on investments in other areas of value chain including transmission and distribution," he continued.
The market for electrical equipment will remain strong with the transformers and switchgears segment alone representing a US$520 million market in Malaysia for 2012.
Malaysian companies including GLCs and private ones will actively look for investment opportunities in power sector in Southeast Asia and South Asia.
Energy Efficiency
Malaysia presents immense opportunity for energy efficiency (EE) and energy management services because of the energy intensive process and manufacturing industries. The Malaysian government has taken a major step by passing an EE law that will be the framework for promoting EE improvements.
The market is expected to be US$298.5 million in 2012, representing a 13% y-o-y growth due to increased awareness regarding sustainable development.
Currently, the commercial sector is the largest market, but the industrial sector is likely to gain momentum in 2012.
For more details: http://www.giiresearch.com/report/fs205850-global-solar-power-market.html
Find Solar Photovoltaics Market Research Reports: http://www.giiresearch.com/topics/EN06_en.shtml
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The implementation of feed-in-tariff (FiT) policy will bring the required momentum to accelerate solar PV market growth in Malaysia. Malaysia aims to become the second largest producer in solar manufacturing by 2020 and is emerging as the favored country for new PV manufacturing units.
Investments in solar PV power projects for 2012 is estimated at US$72 million, a 194% growth over 2011 and close to 12 MW of solar PV power is to be added in 2012, a massive year-on-year increase of 242.9%.
According to Ravi Krishnaswamy, Vice President of Energy & Power Systems, Frost & Sullivan Asia Pacific, banks are actively considering large-scale solar power projects as the next wave of investment option as they are well-equipped to understand risks better now.
Government support through a subsidy rationalization program that gradually removes subsidies from items such as fuel, gas, electricity and tolls bring their rates close to market rate, making solar power look less expensive in the long term.
"Falling global prices for PV modules could also aid the growth of grid connected solar market in Malaysia," he said.
Conventional Power and Utility will remain the Largest Market
The shortage of gas will continue till Q3 2012 and is expected to get better after the commissioning of Malaccas regasification project.
Krishnaswamy commented, "However the recently agreed cost sharing mechanism between TNB, Petronas and the Malaysian government, will alleviate TNBs position. TNB will be looking to diversify its source of power in order to overcome supply challenges with any one fuel source."
"Approval for tariff hikes in tandem with gas price increase will help TNB to strengthen its financial performance and thus focus on investments in other areas of value chain including transmission and distribution," he continued.
The market for electrical equipment will remain strong with the transformers and switchgears segment alone representing a US$520 million market in Malaysia for 2012.
Malaysian companies including GLCs and private ones will actively look for investment opportunities in power sector in Southeast Asia and South Asia.
Energy Efficiency
Malaysia presents immense opportunity for energy efficiency (EE) and energy management services because of the energy intensive process and manufacturing industries. The Malaysian government has taken a major step by passing an EE law that will be the framework for promoting EE improvements.
The market is expected to be US$298.5 million in 2012, representing a 13% y-o-y growth due to increased awareness regarding sustainable development.
Currently, the commercial sector is the largest market, but the industrial sector is likely to gain momentum in 2012.
For more details: http://www.giiresearch.com/report/fs205850-global-solar-power-market.html
Find Solar Photovoltaics Market Research Reports: http://www.giiresearch.com/topics/EN06_en.shtml
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Global Information Inc.
Yuko Ueki
860-674-8796
http://www.GiiResearch.com
Yuko Ueki
860-674-8796
http://www.GiiResearch.com
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