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GlobalData analyst says China will become leading wind energy producer by 2016

CTBR Staff Writer Published 12 February 2015

China will overtake the US as world’s leading wind power producer by 2016 according to a GlobalData analyst.

GlobalData said China, which presently has the world's largest wind power installed capacity, intends to grow further and surpass US wind energy production by 2016.

The country generated around 169 TWh of electricity in 2014, compared to just over 175 TWh produced by the US.

GlobalData analyst covering power Pranav Srivastava said: "For a fairer assessment, we can use installed capacity to estimate the extensiveness of wind power development in a country.

"China's cumulative wind power installed capacity increased from 402 MW in 2001 to 110 GW in 2014, at a Compound Annual Growth Rate (CAGR) of 50.5 percent. In terms of cumulative installed capacity in 2014, China is clearly ahead, as US capacity currently stands at approximately 66 GW."

US President Barack Obama recently spoke of the country's achievements in the energy sector during the State of the Union Address in January 2015. He claimed that the domestic wind industry is number one globally.

Srivastava said in terms of annual installations, the Chinese wind industry has proven to be more stable than the US, as the latter's annual installations depend heavily on government incentives, which are often under speculation.

The US wind industry saw a 92% decline in annual installed capacity in 2013. The expiration of the Production Tax Credit resulted in about 30,000 job losses.

Srivastava said: "Although this incentive, which was renewed early in December 2014, sought to benefit wind power generators, it did not have any worthwhile positive impact on the industry in practicality, as it gave investors very little time to meet its eligibility requirements.

"As such, the US wind sector may not be in as healthy a condition as President Obama recently claimed."