Small wind power market to reach $3.3 billion by 2018

The small wind turbine industry is maturing and annual global installations of S.W.T.’s will roughly double in the next five years from 86 megawatts in 2012 to 172 megawatts in 2018.

The market for small wind turbines will reach $3.3 billion in revenues by 2018, finds a report from Navigant Research.

The small wind turbine industry is maturing and annual global installations of S.W.T.’s will roughly double in the next five years from 86 megawatts in 2012 to 172 megawatts in 2018.

The markets future growth is said to be signaled by the expanded role of S.W.T. certification, the existence of hundreds of manufacturers around the world, the expansion of dealer networks, and the growing number of national and regional industry associations.

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“While the U.S. market for small wind turbines tries to regain momentum following the reduction or expiration of rebates and other key incentive programs in leading states, the overall market for S.W.T.s is growing as a result of Feed-in Tariff policies in the United Kingdom and Italy,” says Dexter Gauntlett, research analyst with Navigant Research.

The small wind power market will also be driven by growing demand for onsite generation, volatile diesel fuel costs and the growing need for power.

There are also a growing number of applications for the technology in sectors which would require power generation in remote locations such as telecommunications and defense. – EcoSeed Staff

ECOticias.com – EcoSeed

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