Aug 6 2010
A TechSci Research report titled “China Wind Power Market Outlook 2014” has observed that China’s appetite towards renewable energy sources is expected to propel the country’s wind power installations.
In recent years, favourable operating environments and economic conditions combined with a focus on the development of offshore wind power are likely to result in exponential growth of China’s wind power installations.
By 2009 end, China’s overall installed wind power capacity had surpassed 25 GW, in comparison to 1.3 GW during 2005. In 2009, China added over 13 GW capacity to its wind power installations, thus making it to be one-third in volume of the overall global additions. Thus, in the global wind energy scenario, in terms of the largest market for wind power, China occupies the third position behind the U.S. and Germany.
The TechSci Research report further adds that China is most likely to take the lead in the global wind energy market during the next few years. The government of China’s commitment towards deriving 20% power from renewable resources by the year 2020 is very much in sight, given the government support and rising investment levels.