Small Wind Power Systems Will Surpass $700 Million in Annual Revenue by 2018

Although the market for small wind power systems has been in existence for 30 years, there are many signs that the industry is reaching a critical juncture. The past 18 months have seen a number of bankruptcies and acquisitions among small wind turbine manufacturers. Nevertheless, the overall opportunity for small wind power remains strong across a variety of applications in both developed and developing countries. According to a recent report from Navigant Research, the worldwide market for small wind systems will reach $723 million by 2018, with $3.3 billion in cumulative sales from 2013 through 2018.

"Small wind is growing primarily as a result of state and national incentives, including a burgeoning market in the United Kingdom," says Dexter Gauntlett, research analyst with Navigant Research. "The question is: Can the small wind turbine industry grow to more than just a niche market, and attract the investment required to drive down costs? Given the precipitous price declines for solar photovoltaic modules, distributed solar PV is increasingly competitive with small wind."

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

EVERVOLT home battery storage: Standby power with or without solar

EVERVOLT home battery storage: Standby power with or without solar

Renewable energy stored in an EVERVOLT home battery system is the perfect backup plan against an uncertain utility grid and weather events. Run key appliances longer and live life when the unexpected happens. EVERVOLT battery storage systems are covered by a complete 12-year warranty from Panasonic.