Solar in Southeast Asia is set for a rebound, after a two-year market contraction triggered by Vietnam’s abrupt suspension of its feed-in-tariff policy in 2020, the Asian Photovoltaic Industry Association (APVIA) and the Global Solar Council (GSC) indicate in a new report, published in work with SolarPower Europe.
Annual capacity additions are expected to hit 3.8 GW in 2023, up 13% from 2022. In 2021, the market contracted by 68% to 4.2 GW of annual additions. But now, favorable policy frameworks, shrinking technology costs, and increasing electricity demand now point to growth opportunities in Southeast Asia.
