Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
Annual investment in solar and wind generation in the Asia Pacific region could double to US$1.3 trillion by 2030 compared to the previous decade, with policy targets and cost declines boosting growth, according to research firm Wood Mackenzie.
Solar and wind power represent a US$1 trillion investment opportunity in Asia Pacific this decade, equivalent to two-thirds of the region’s power generation sector, as countries move away from fossil fuel generation in favour of greener alternatives.
