Shipments of solar panels in Japan fell 13 percent in the three months to June 30, a sign the market may be cooling three years after the country introduced generous incentives to boost the industry.
It’s the first year-on-year decline for shipments of solar products since the October-December period in 2012, according to the Japan Photovoltaic Energy Association, which released the data on Monday.
Companies shipped 1,737 megawatts of panels in the first quarter, 39 percent lower compared with the previous quarter, according to a statement from the association. Shipments include a small number of panels produced for markets outside Japan.
Japan introduced an incentive program for clean energy in July 2012 to diversify its energy sources, leading to a boom in the solar industry.
The group compiled data from 39 companies including Sharp Corp. and Kyocera Corp.