The wind power industry has grown rapidly over the past decade and manufacturing costs have fallen rapidly, making it one of the fastest growing energy types in the world. However, with the rise in raw material prices in recent years, the industry pattern may change.
The data shows that in 2020, the cumulative installed capacity of wind power in the world is 733GW. It is predicted that from 2021 to 2030, the cumulative installed capacity of wind power in the world will reach 1040GW.
Copper has a wide range of applications in the wind power industry. Among them, the core consumption is relatively large: wind power cables, wind power motors and related power transmission and distribution systems. In addition, magnet wire and NdFeB magnetic materials are the core raw materials in wind turbines.
Jintian Copper is the only manufacturer in the industry that can provide copper products, magnet wires and NdFeB magnetic materials at the same time, which is very compatible with the wind power industry.
The factor that has the greatest impact on the intensity of copper use in wind power is the choice of onshore new installed capacity and offshore new installed capacity. The Wood Mackenzie report shows that onshore wind consumes 5,400 tonnes of copper per GW of installed capacity, and offshore wind consumes 15,300 tonnes of copper per GW of installed capacity.
According to the above calculation, the new installed capacity of wind power in the world from 2021 to 2030 is 1040GW. Considering the acceleration of wind power construction from 2025 to 2030, it is expected that the average annual increase in wind power from 2021 to 2025 will be 100GW. The Global Wind Energy Council (GWEC) predicts in 2020 that the global onshore newly installed capacity from 2021 to 2025 will be 9.7GW, 9.1GW, 9.9GW, 13GW, and 21.5GW respectively. Based on this, it is estimated that the average annual copper consumption of wind power from 2021 to 2025 is 570,000 Ton.
Faced with such a large amount of copper consumption, the wind power industry has a huge demand for high-quality, large-scale, sustainable and low-cost copper processing and production enterprises, and Jintian Copper just meets these requirements.