The report highlights installed capacity and power generation trends from 2001 to 2025 in China wind power market.
As a global economic superpower, China has made significant investments in harnessing wind energy. The country seeks to double the number of wind turbines within the next six years in a bid to meet its renewable energy targets. As per research, the Chinese wind power industry is the world’s largest producer. From the current installed capacity of 75GW, the aim is to achieve 200GW by 2020. In comparison to China, the European Union together has just over 90GW of installed wind capacity.
This report, Wind Power in China, Market Outlook to 2025, Update 2014 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles, provides comprehensive information and understanding of the wind power market.
The far western province of Xingjian is the one of the seven areas designated for wind development. New units are being installed and the pace of work has accelerated. However, integrating wind power has posed a series of challenges. Till now, wind only generated 2% of the country’s electricity. Despite the low productivity, the sheer scale of wind market has encouraged mass production that have further lowered prices and fostered innovation.
Until now, Chinese wind manufacturers only produced Western-designed turbines under license. However, some manufacturers earned bad reputation for turning out inferior products. Now, there is a flurry of new designs. For example, the wind turbine manufacturer, Goldwind, now offers wind turbines that does not need gearbox but instead has “direct drive” systems designs which is cheaper to maintain.
The Chinese government has set renewable energy as a strategic priority. Especially as the non-renewable resources become limited, price gets higher and pollution gets worse, long-term aspects of wind energy is cheaper than coal. The cost of wind power is also expected to drop through technical innovation. Therefore, the sector is expected to contribute significantly to electricity supply of the country.
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