How China built the world’s largest wind power market
China’s energy demand has been growing at breathtaking pace putting pressure on the security of the country’s electricity supply, 70 per cent of which is based on coal. This ‘Inside story on climate compatible development’ by the Climate and Development Knowledge Network shows that the Chinese government is increasingly looking at renewable energy sources to help provide electricity in an environmentally and socially acceptable way – and at a competitive price. Wind power has been identified as one of the most technologically proven and financially viable technologies, making it today’s market leader. The brief finds that a clear expression of political will, backed by a set of effective policy measures, has been crucial to China’s success in building the world’s largest wind power market. Moreover, the establishment of a stable and favourable pricing mechanism is essential for the development of wind power, because it increases the chances for profitability and growth.