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China green policies drive wind energy and photovoltaic markets

Posted: 06 Aug 2010 ?? ?Print Version ?Bookmark and Share

Keywords:wind energy? photovoltaic market? green technology? green energy? Solar Roof and Golden Sun project?

The China government policies designed to promote the adoption of green technologies are delivering the desired effect, with the country enjoying productiveness in wind power capacity and photovoltaic (PV) installations that is powering the establishment of a new generation of global green energy suppliers, according to iSuppli Corp.

Senior analyst for China research at iSuppli, Isaac Wang says, "Overall, the newly energized green initiatives [of the Chinese Government] come in the wake of a pledge from Beijing, [having] announced in December 2009 at the Copenhagen World Climate Conference in Denmark, to cut China's carbon emissions in 2020 by about 45 percent from their 2005 levels. To achieve the target, China has indicated willingness to reduce reliance on noxious coal sources while also bolstering its fledgling renewable energy industries in order to produce cleaner power."

For the wind energy market, new wind capacity generated in the country amounted to 25,100MW in 2009, greater than double the 12,100MW of power posted in 2008.

iSuppli data also show that China's output last year accounted for nearly a third of new wind capacity produced worldwide. At that time, continuous growth in the sector over the past five years propelled China to surpass Spain in 2009 to become the world's third largest provider of wind power. Interestingly, China had ranked 10th globally in wind power, with 6,100MW only three years ago.

A wall of support for the Chinese wind power market comes from local sourcing regulations. Particularly, the state-run National Development and Reform Commission of China has ruled that domestic sourcing rates should comprise at least 70 percent of wind power mills for facilities to gain construction approval. As a result of the policy, locally manufactured wind turbines now account for more than 76 percent share of new orders, while also making up 62 percent of the total wind market in the country. Together, the top Chinese players in 2009Sinovel Wind Co., Goldwind Science & Technology Co., and DECaccount for 55 percent share of the market, iSuppli figures show. In addition, more than $900 million in new business related to the sector is expected to be created annually over the next three years.

On the other hand, the Chinese government in March 2009 launched Solar Roof and Golden Sun, twin projects subsidizing domestic investment in PV power stations to encourage the development of the local PV industry. PV power installations progressed faster in China in 2009 than what the government had planned. While official forecasts had initially expected PV power installations to reach 300MW in 2010, projections show that the local industry would generate 580MW this year, comfortably exceeding the original government targets.

In the next three years, the two stimulus programs will support 3GW of China's new PV power stations, expanding the field of local firms in the entire PV supply chain. The programs are further predicted to enable valuable experience for government policy makers while preparing the groundwork for larger subsidy plans in the future.

Currently, China is the world's largest PV cell manufacturing country and leading global exporter. In 2008, it produced approximately 2GW of PV cellswith over 90 percent exported. Five Chinese firms are among the world's top 10 PV cell manufacturers, namely: Suntech Power (No. 1), JA Solar, Yingli Green Energy, Ningbo Solar Electric and China Sunergy.





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