Small wind power market seen at USD 723m globally by 2018
Jun 21, 2013 - The worldwide market for small wind power systems is seen to hit USD 723 million (EUR 547m) by 2018, with sales of USD 3.3 billion in 2013-2018, a report of Navigant Research said.
According to the report Small Wind Power, released on Thursday, the general market opportunities for small wind power are good in both developed and developing nations.
Small wind power installations benefit from government subsidies, research analyst Dexter Gauntlett said. Yet, the segment is facing serious competition from the distributed solar power market, which has seen a considerable drop in solar module prices.
The market analysis firm noted that community wind projects are currently gaining popularity in some parts of Europe and the US. At present, these type of projects spread in the rural parts of the US, especially in the states of Minnesota and Iowa.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.