Rapid growth in onshore wind
China wind power set for rapid growth and plunging costs – Wood Mackenzie
Onshore wind costs expected to drop by 46pc by 2030 as state policies drive sustained capacity growth, consultancy says
China’s wind power industry is set for a decade of rapid capacity growth and steep cost reductions, positioning it for a key role in the country’s transition to net zero, according to consultancy Wood Mackenzie. The levelised cost of energy for onshore wind, which is more mature than the offshore sector, will drop by 46pc over 2021-2030 and will slip below the official on-grid tariff for coal power as early as next year because of the deployment of bigger turbines and well-established supply chains, Wood Mackenzie says. “Stimulated by China’s target of 1,200GW of wind and solar set for 2030, 408GW of new capacity will be added from 2021 to 2030,” says Wood Mackenzie principal analyst Xiaoyan
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