The region accounted for less than 1% of global installations at the end of 2011, but will increase that share more than fourfold by 2016, according to IMS’s PV Market in Southeast Asia report.
IMS expects annual installations to grow by 50% on average for the next five years, and pass the 1GW mark in 2015.
Although regional growth has so far been fuelled by Thailand, thanks to its attractive incentives for ground-mounted PV deployments, other countries in the region are set to develop rapidly.
IMS singles out Indonesia as the likely source of fastest growth, and expects the nation to install 1GW of PV over the next four years – much of it off-grid.
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