Goldman Sees China Nearly Tripling Its Target for Wind and Solar

China is likely to install nearly three times more wind turbines and solar panels by 2030 than it’s current target, helping drive the world’s biggest fuel importer toward energy self-sufficiency, according to Goldman Sachs Group Inc.

Falling costs will make around-the-clock clean power increasingly profitable, leading to the rapid deployment of renewables and batteries, analysts including Nikhil Bhandari and Amber Cai said in a report on Monday. Solar and wind capacity will reach 3,300 gigawatts by 2030, well ahead of the government’s target of 1,200 gigawatts.