Editor’s note: For a little insight to why China’s economy is not booming as the central planners envisioned, search YouTube for China’s ghost cities and prepare to be dumbstruck.
As a consequence of China’s Thirteenth Five-Year Plan (2016 to 2020) and worsening wind power curtailment impacting grid-connection of new capacity, MAKE will downgrade its 10-year outlook by 6.5% for new-added installed capacity and grid-connected capacity.
This Research Note includes a detailed forecast from 2016 to 2025. The forecast data includes a split of expected onshore and offshore development, installed and grid-connected forecast by region, and an analysis of the latest market conditions.
- The national target for grid-connected wind power capacity has been reduced from 250 GW to 210 GW
- Further reduction to onshore FIT levels in 2018 and to the offshore FIT from 2017 have been proposed
- New offshore installations remain slow over the short-term, but are expected to enter GW-scale growth post-2018 in order to comply with a 5 GW national target by 2020.
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