The research and consulting firm, GlobalData, have reported that despite a slowed growth rate, China will still be the largest wind power market in 2020. It still very much wants to reduce its carbon footprint while increasing the availability of electricity in rural areas.

Chine has an impressive record: It has doubled its cumulative wind capacity every year between 2006 and 2011. China, along with the US, Germany, UK, Italy, Spain and India, accounted for 74% of global installed wind capacity in 2012.

China Will Remain Wind Power Market Leader for next Seven Years

The global offshore wind power market is predicted to grow significantly and reach 51.2 GW in 2020. This from just 5.5 GW in 2012. The UK is the leader in this area. Winds offshore tend to be stronger and more consistent and so a number of large projects are on drawing board.

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Swati Singh, is GlobalData’s Power Sector Analyst. He said:

“The outlook for the wind energy sector appears positive, although future growth is expected to slow down during the forecast period. This is mainly due to continuing uncertainties in the US and the maturing European wind power market.”

So why is the Chinese wind power market so succesful? According to the GlobalData report, it’s down to a combination of market guidance and government encouragement; the Chinese government introduced a number of financial and regulatory initiatives to promote wind and solar energy sources. The support from the Chinese Government include an attractive concessional programme and low rates of interest for loans from Government banks. However Singh predicts that insufficient infrastructure and “questionable” pricing policies will mean that the growth rate will slow. He also cites low quality turbines.

While China is a vast country, it has embraced wind power, both on and offshore, with a vigour that should be the envy of other countries.

 

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