News

Southeast Asia is one of the most profitable solar markets in the world, with the fastest growth and one of the most promising regions for the global solar photovoltaic industry.

By the end of this year, the scale of the Southeast Asian solar energy market is expected to be 27GW, and it is expected to reach 43GW in the next five years, with a compound annual growth rate of over 10.2% during the forecast period.

In the medium term, factors such as increasing renewable energy installations to reduce carbon emissions and declining prices of solar photovoltaic modules have driven the solar energy market.

On the other hand, the increasing popularity of alternative renewable energy technologies such as hydropower is expected to hinder market growth during the research period.

Nevertheless, the government’s support policies for renewable energy and technological advancements in solar equipment are expected to increase the opportunities for solar companies to install solar photovoltaic power plants in the region in the coming years.

Vietnam is expected to become the largest market in Southeast Asia as its demand for electricity continues to increase, the number of renewable energy installations continues to increase, and it is connected to the country’s power grid.