By 2030, the Asia-Pacific region's PV capacity is expected to increase to 1500GW, with China leading the way

International research institute Wood Mackenzie released a research report that it is expected that by 2030, the installed capacity of photovoltaics in the Asia-Pacific region will triple to 1500 GW, and China will lead the growth of photovoltaic capacity in the Asia-Pacific region
.

By 2030, China is expected to add 619 GW, leading the Asia-Pacific region's PV growth
.
This is followed by India, which is expected to add 138 GW during the forecast period, Japan with 63 GW and South Korea with 58 GW
.

In terms of solar share, Australia is expected to account for more than 20% of its energy mix by 2030, making it the country with the highest share in the region
.
This is followed by Vietnam with 15% and Japan with 13%.

Wood Mackenzie said, "Policies are evolving to overcome market barriers to grow the share of solar power in Asia Pacific from 4% in 2020 to 10%
in 2030.
”

In addition, Indonesia is expected to be the fastest growing solar market
in the Asia-Pacific region this decade.
By 2030, photovoltaic power generation capacity will reach 8.
5 GW, up from 0.
3 GW
previously.

The share of new distributed solar capacity in the top 10 solar markets in the Asia-Pacific region will reach 51%
by the end of the decade.
China leads in utility-scale deployment, but outside of China, distributed solar will account for more than
60% of new solar PV.