Wind power to be cheapest energy source in 2025 - TUeV SUeD

Oct 24, 2014 - German product safety quality inspection group TUeV SUeD expects wind power to become the cheapest among all energy sources by 2025, which will lead to an enormous expansion of the industry.

TUeV SUeD PMSS' business director Nigel Crowe said on Tuesday, before the opening of the China Wind Power 2014 event in Beijing, that over the past 20 years wind power generation technology has significantly improved, reducing costs by between 55% and 60%. Costs have always been the main concern of both manufacturers and investors, he added.

Asia, and especially China as the biggest wind market, have great potential for wind power expansion. China alone is seen surpassing 100 GW of wind by end-2014 and then doubling its capacity to 200 GW within five years. The country had 84.8 GW of operational wind farms at the end of September.

On a global scale, the world’s wind power generation capacity totalled 318 GW in 2013 and is expected to double by 2018, Crowe noted.

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