Published By : 21 Jan 2016 | Published By : QYRESEARCH
The availability of energy in any region defines its economic development to a great extent. Progressing economies in many regions has resulted in growing consumption of energy, which in turn, has created a severe threat for the sustainability of traditional sources of energy. In addition, generating power from conventional sources of energy also leads to alarming levels of environmental pollution.
This escalating need to control environment pollution and the rapid depletion of non-renewable energy sources has greatly propelled the demand for green energy from across the globe.
The recovery of several economies in Asia Pacific has resulted in a surging demand for energy, upping its potential as a promising market for green energy. Global players within this space are zeroing on Asia Pacific for further expansions, resulting in Asia Pacific registering a 10.30 per cent compound annual growth rate, a rate that is in fact, higher than the global average.
Even the investments in the green energy market in this region are greater than that of any other regional market, an investment of an estimated US$ 40 billion per quarter.
Kyocera Solar, a photovoltaic systems and equipment manufacturer based in Kyoto launched a floating solar power plant in Japan last year, the largest of its kind in the world. The collaborated project of Century Tokyo Leasing Corp and Kyocera is afloat the Sakasamaike pond located in Hyogo’s Kasai City. The plant began operations in June last year, with a production capacity of 2.3MW of electricity that caters to the demand of around 820 households. The annual rate at which electricity will be generated from this plant is an estimated US$ 0.78 million.
Taking inspiration from the success of the Hyogo plant, the Taiwanese government also plans to set up a floating solar power plant so as to increase the capacity of renewable power in the country.