Navigant Research has issued a report predicting that annual global installations of small wind turbines will double in capacity in the next five years, growing from 86 MW in 2012 to 172 MW in 2018, representing $3.3 billion in revenue.
Although the company said the U.S. market for small wind turbines is attempting to regain momentum following the expiration of rebates and other key incentive program in some states, the overall market for small wind turbines is growing as a result of policies in the United Kingdom and Italy. In addition, the market will be driven by the growing demand for onsite generation, volatile diesel fuel costs and China’s growing need for power.
Although the small wind turbine market is facing a challenge from the solar photovoltaic sector, wind still offers unique advantages, according to Navigant Research.
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