China Gathering Traction in Wind and Solar Industry

Published By : 25 Jun 2015 | Published By : QYRESEARCH

China is known as one of the world’s top greenhouse gas emission contributor. However, this scenario is changing drastically, as China’s efforts to reduce their global percentage in greenhouse gas emission rate is gaining pace. When the renewable energy statistics are looked in isolation, then the sketch can be misleading picture of solar and wind power contributing the growth of China energy sector. 

However, the Energy Information Agency says that the total installed solar and wind electricity capacity was recorded at 7 per cent in the year 2013. This seems as an insignificant amount, when compared to the large market share of hydropower and coal. Nevertheless, owing to nation’s physical size, rising energy needs, and massive population, this figure represents a massive amount of wind and solar potential.

In 2014, the nation installed around 23 gigawatts of wind power and around 45 per cent of wind power capacity was installed across the globe, as per the data from Global Wind Energy Council. Furthermore, China now boasts over 114 gigawatts of installed capacity of wind, which is nearly one-third of the total world capacity. In addition to this, China has also dominated the global market in terms of installing 10.6 gigawatts of solar PV capacity, which will help it close on its goal of 35 GW of installed capacity by the end of 2015. On the other hand, Germany that is the world leader in terms of renewable energy use will install more solar panels and will be surpassed by China this year. 

These figures show that Beijing has sustained its commitment to the nation’s most serious ecological issues that include deteriorating air, water, and soil quality. Furthermore, increasing adoption of new renewable energy will ease some of the pressure that has already been felt on these vital resources that will prompt Beijing to pursue aggressively new wind and solar plans.
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