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Wind Turbine: Is It Worth the Investment?

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Published on : Mar 30, 2016

The growing demand for renewable energy has boosted the growth of the global offshore wind turbines market. Rising concerns over the negative effects of fossil fuel on environment have led government and industries to focus on renewable energy. Wind energy is an important part of renewable energy mix and hence, wind blades are high in demand to generate electricity. While onshore wind turbines have been installed extensively, offshore wind turbines have witnessed a surge in demand in the recent years as the offshore wind speed is high enough to produce more amount of electricity. However, the high installation cost of wind turbines will restrain the demand from the global offshore wind turbines market.

China Cancels Proposals of New Wind Turbines

Though a rising number of governments are stressing on the generation of electricity through renewable energy sources such as wind energy, China has considered to stop building any new wind turbines. This can be attributed to the loss of the country’s electrical grid as most of the electricity generated through wind energy was wasted. According to a statement by the country’s National Energy Administration, the government has stopped approvals for new wind power projects across the nation’s windiest regions. In these regions, approximately 71 gigawatts of wind turbines were installed. However, according to the statistics released, around 33.9 billion kilowatt-hours of wind power was wasted in 2015 alone. 

The electricity generated by wind turbines does not necessarily coincide with the hours when electricity is most needed. As a result, grid operators face a huge challenge and power grids become highly fragile. Though China has built up a huge wind capacity, the wide fluctuations in electricity output have made the electricity grid fragile. Further, the demand for electricity in the country has grown slowly than anticipated owing to the economic slowdown in the country.