Korea expected to pick up the PV pace

The organizers of EXPO Solar/PV Korea 2011 have said that this year will mark a shift in solar energy demand away from of major European markets to Asia and the U.S.

Korea, which is waiting for its Renewable Portfolio Standard (RPS) to be enforced in 2012, is steadily growing its solar market. As pv magazine reports in its January edition, the Korean Photovoltaic Industry Association and the European Photovoltaic Industry Association envision Korea’s 2012 installed PV to be 1.3 gigawatts, or about a five percent share of what the former group believes will be the world’s solar market at that time.

Author Gavin Hudson wrote: "2009 was a shaky transition year, when South Korea accounted for just about two percent of the world’s solar market, down from its banner year in 2008. However, judging by the amount of the country’s government funding available to clean energy development and by the rapid growth of its industry’s solar production capacities, at this point the forecast seems rather bright."

Already, companies have been seen to make massive investments in expanding their solar businesses, which has pushed the stock price of Korean solar companies increasingly higher.

EXPO Solar/PV Korea 2011, scheduled to be held at KINTEX, Korea, from February 16-18, will present a global preview of what the PV industry can expect to see over the next year. Solar experts from around the world have also been invited to examine the latest PV technology and market developments. Over 300 companies from 30 different countries are expected to showcase their technology breakthroughs at around 1,000 booths.

Watch out for the next edition of pv magazine, due out on January 19, which includes a five-page feature on the Korean PV market.