All APAC countries covered in the report with the exception of Singapore have set targets for renewable energy deployment and generation. While some countries have capacity targets, some have generation targets although both would imply and increase in installed capacity. Singapore has clarified that renewable energy will not be subsidized; hence there are no FITs or related mechanisms in the country to promote renewable energy.
In the Asia-Pacific region, FIT is evidently the most popular form of incentive utilized to promote renewable power installations. Except Malaysia, New Zealand, Republic of Korea and Singapore, all other countries covered in the region have FITs for one or more renewable technologies. Net-metering which is a recent and more advanced incentive is popular in Japan and is gaining ground in India with a few states having introduced the same for rooftop solar installations.
In most of the APAC countries, introduction of dedicated agencies to coordinate installations and the roll out of FITs has led to a significant and prompt growth in the corresponding technologies. India for example had less than 50 MW solar PV capacity in 2010. This increased to more than 1,000 MW in 2011 which was a direct result of the introduction of the National Solar Mission (NSM) in 2010. The mission not only streamlined the industry but also provided several incentives and subsidies along with FITs.
GlobalData’s Asia Pacific Renewable Energy Policy Handbook 2016 report provides analysis of the renewable power market in the Asia-Pacific region, covering the 15 major countries of Australia, China, India, Indonesia, Japan, Kazakhstan, Malaysia, New Zealand, Pakistan, Philippines, Republic of Korea, Singapore, Taiwan, Thailand, and Vietnam. It also compares the countries based on their use of different types of renewable power or financial incentives.
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