China’s wind energy sector is set to grow substantially by 2017, owing to the rapid increase in economy and surging electricity consumption as well as government support.
China is rapidly emerging as the largest wind power market in the world. According to Angelika Pullen, spokeswoman for the Global Wind Energy Council, in 2009, the number of turbines installed in China surpassed the total number installed in Europe and could possess the world’s largest total capacity by 2017, reported UPI
on June 15, 2010.
China installed 13 GW of new wind power capacity in 2009 as compared to 10 GW and 9.9 GW in Europe and US respectively.
Rapid economic growth and thriving industrial sectors have been leading China to witness a continuous increase in its electricity consumption for the past few years. As a result, China’s power sector has been witnessing substantial development. The major attention has been captured by the renewable energy sector, with wind power industry emerging as the fastest growing industry segment.
The Government of China showed its support to the development of wind power sector in the form of wind concession tendering program. This programme played a key role in promoting the development of this sector. In addition to this, China’s commitment to cut carbon dioxide emission levels is also supporting the sector’s growth. China has pushed its wind power target for 2020 to 150 GW, from the previously set target of 100 GW.
China has also boosted its wind energy infrastructure. Currently, there exist 30 turbine producers and 40 suppliers in the country. Earlier, it used to take six months or more due to inadequate grid connections until wind farms would indeed go online. But now, this period has got reduced to only 1-2 months. Moreover, China has doubled its wind power base for fourth consecutive year.
According to “China Wind Sector Analysis”, a market research report by RNCOS, these favorable factors will lead the industry to witness the cumulative wind power installed capacity to grow at a CAGR of nearly 43% during 2010-2012.
According to a Research Analyst at RNCOS, “At present, the wind power industry in China is in its early stages, but it has huge potential for future growth, particularly in the field of wind equipment manufacturing. Several domestic companies have shown interest in producing complete sets of equipment; however, they lag behind in terms of technology required to develop parts such as gearboxes and electronic controls. Thus, giving more focus on technology can lead them to churn maximum profits out of this potential market.”
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