China installs almost 50% of the world’s wind energy capacity with cumulative capacity more than Europe
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February 23, 2016China Wind Installation 2015
China installed a gargantuan 30 GW of wind energy capacity in 2015, as it became the world’s largest wind energy producer. Europe which is regarded as the bastion of the green energy movement, has now got less wind energy capacity at China which has almost 150 GW of cumulative wind capacity now. Out of the 63 GW of global wind capacity installed in 2015, China accounts for almost 50%. Even in solar energy, China has become the biggest country in terms of installed capacity having beaten Germany earlier last year. China remains the biggest driver of global solar and wind energy growth, accounting for 50% of the global wind and solar capacity installs in 2015.
As China moves away from thermal power, it needs to look at all alternative energy sources – wind, hydro, nuclear and solar energy. It has already got a lot of hydro capacity installed and is ramping up solar energy. USA at 8.6 GW of wind installed in 2015 was far behind second, while Germany managed to astonish with a 6 GW install which is quite large considering that the country is now oversupplied with power with wholesale electricity prices quite low. It is the support from EEG and offshore wind energy that has allowed Germany to become the 3 third largest country. Brazil and India made up the 4th and 5th countries in the pecking order of wind energy.
Source – GWEC
India is lagging behind at 2.6 GW installs, though the government has a target of 5 GW annual installs in order to meet its 75 GW target by 2022. Indian wind energy has faced the problem of lack of good wind energy sites, as well as the other overall power sector problems like distribution financial health issues and lack of available grid. Solar energy is also pressurizing wind energy, as solar tariffs have fallen below wind tariffs in many places.
I think while solar has bright future, wind may face headwinds if China slows down. Other countries in Europe are mature markets with low scope of growth, while India will not be a big market as the government is promoting solar much more than wind energy.