Small wind heading into boom period, report says

The small wind industry is about to enter a major growth spurt. It is poised to grow from a $255 million industry in 2010 to $634 million industry in 2015, according to a recent Pike Research report. The report attributes a growing interest and expected success in the coming years to the fact that small wind is currently more efficient and, therefore, cheaper on a cost-per-watt basis than solar photovoltaic cells. Because the return on investment can take as little as 5 years to 10 years, depending on area wind conditions, it offers an accessible option to small businesses, farms, and communities even in the absence of state or federal incentives, according to the report. But perhaps the most interesting statistic thrown out there by Pike Research is that it expects the average price of a small wind turbine system to reach $4,150 per kilowatt by 2015.

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