China could reach 403 GW of installed Wind Power Capacity by 2026
According to the Renewable Energy Policy Network for the 21st Century’s (REN21) annual report, Global Status Report, China added 23.4 gigawatts (GW) in 2016 to its installed wind power capacity, increasing its total to 169 GW.With that added capacity, China holds about a third of all globally installed wind power capacity.
Fight against pollution, falling costs and increased investment
A combination of increased efforts to reduce air pollution, increased efforts to fighting against global warming by switching from coal-based plants to greener energy sources such as wind and solar, falling deployment costs and improved technology, can be all be explained as important factors for why China’s has increased its number of wind power instalments the last couple of years.
According to the Frankfurt School’s annual report on global trends in renewable energy investment, China invested $4.1 billion in offshore wind technology in 2016, which is its highest figure to date. Overall investments in wind energy in China amounted to about $35 billion in 2016, which was second to that of investments in the solar technology in 2016.
Lower and Higher Future Growth Predictions
However, it is expected that annual instalments and investments in the wind sector will fall the next coming years. Last year, China’s National Energy Administration (NEA) announced that they would reduce their wind installation target of 250 GW by the end of 2020 to 210 GW. According to the Frankfurt School, this adjustment can be due to the challenges of curtailment and lower electricity demand growth.
The renewable energy consulting company, MAKE Consulting, predicts in their ‘2017 China Wind Power Outlook’ report that annual capacity additions from 2017 to 2026 will be less than 25 GW, and that by 2026 cumulative grid-connected capacity will be of 403 GW. Post annual grid-connected capacity will however increase due to expanded availability of grid capacity.
Frankfurt School, 2017, Global Trends in Renewable Energy Investment
Renewable Energy Policy Network for the 21st Century’s (REN21), 2017 Global Status Report
Featured Image: Sourced from Power Engineering International (PEI), 2014: China to phase out solar and wind subsidies by 2020