Netscribes’ latest market research report titled Wind Energy Market in China 2014 analyses how the renewable energy sector is gaining importance in China and how wind energy has become an indispensable part of this sector. With the gap in demand and supply of energy increasing at a steady pace, it has become necessary to look beyond conventional sources for generating energy. This has led to a shift in focus from thermal power plants to renewable sources of energy. With wind energy related equipment being the easiest and least expensive to set up among the various types of renewable energy, the latter has emerged as the fastest growing segment. Mandate of reduced carbon footprint under the 12th FYP to act as a major growth driver for the wind energy market. However, Weak grid connectivity to have an adverse impact on the Chinese wind energy market.
Several policies have been adopted by the Chinese government to promote the development of large scale wind power bases in China. Ministry of Finance has promulgated several policies to encourage wind power production in 2008. Growing dominance of domestic companies in the wind power market has emerged as a major trend in China. The market is characterized by high competition among players. Market players are focusing on the development of off-shore wind power. Wind power capacity has witnessed steady growth over the past years and is on the way to become as a major source of power generation in the future.