The story of the Chinese wind power industry is remarkable. From a small number of demonstration projects at the beginning of the century, the Chinese wind power market has grown to become the world’s largest. At the end of 2010, it overtook the United States to become the leader in terms of cumulative installed capacity. Even though China used to import 80% of its wind energy equipment, domestic manufacturing has exploded since 2006 and now supplies more than 70% of the domestic market. In 2010, China’s wind power market attracted investments of RMB 89 billion (US$14 billion) and employed over 150,000 people.
A clear expression of political will, backed by a set of effective policy measures, has been key to China’s success in building the world’s largest wind power market.
The establishment of a stable and favorable pricing mechanism is crucial for the development of wind power, because it increases the chances for profitability and growth.
A strong domestic market contributes to the growth of local wind power equipment manufacturing.