The Chinese government is throwing its weight behind a push for alternative energy sources. Among those is wind. One global outcome of this is that wind turbine prices are falling.
Last month, authorities gave a massive kick-start to wind energy by raising the target for the overall share of renewable energy in the nation's power mix to 15 percent by 2020, up from 10 percent.
A significant chunk of that will come from wind farms. And as Chinese firms move in a big way to produce cheap wind turbines to satisfy domestic demand, they're forcing turbine prices down in other countries.
"With the development of wind turbine technology in China, the price is already falling worldwide. The price has come down about 20 percent," said Deng Yuanchang, deputy director of the Wind Resource Research Center at Sun Yat-sen University...
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