Bullish Renewables Outlook Driven By Regulatory Changes
BMI View : We have revised up our short- and long-term forecasts for non-hydropower renewables generation and capacity in Thailand this quarter on the back of new data and impending changes to the regulatory environment. Growth in 2014 will be largely driven by the solar sector, but we see growth across all sectors over the long-term.
We have made slight amendments to our 2014 forecasts for non-hydropower renewables generation and capacity in Thailand this quarter on the back of new data. While our forecasts for solar and wind energy remain unchanged, we have revised up our forecasts for the biomass sector to account for a stronger-than-expected project pipeline.
Solar: We are forecasting 450MW of new solar capacity installations in 2014, with commercial and residential solar accounting for approximately equal shares of new capacity additions. This would be the highest amount of solar capacity additions in a single year, slightly outpacing the record 440MW of solar capacity installed in 2013. As highlighted previously, we continue to see a number of large commercial scale projects commence development in recent months, with Thai solar developer Solar Power Company commissioning 12 solar plants with capacities of 7.5MW between February and June 2014 (see 'Commercial Solar Dominated By Few', April 2 2014).
|Solar: Big Jump|
|Thailand - Non-Hydropower Renewables Capacity, MW|