TechNavio’s analysts forecast the global small wind turbine market will grow at a CAGR of 18.7 percent over the period 2013-2018.
Small wind turbines are used for the micro-generation of energy for small-scale commercial and residential customers.
Key Vendors operating in the marketing segment of small wind turbines are Bergey Windpower, Entegrity Wind Systems, Northern Power Systems and XZERES.
Other prominent vendors include Ampair Energy, DyoTech, Endurance Wind Power, Evance Wind Turbines, Fortis Wind Energy and more.
Advanced technology and innovative applications are major driving factors in small wind turbine market. What is seen today as big wind started in the size which is today defined as small wind.
Until the 1970s and 1980s, most wind turbines had a capacity of less than 100 kW. Field of application of a small wind turbine has grown to extensive areas compared to their initial limited use.
The future of the small wind industry depends on the cost of the technology, the enactment of supportive policies and economic incentives, fossil-fuel prices, investor interest and consumer awareness.
The crucial challenge facing the market of small wind turbines is the high initial investment needed for the technology. If we compare the cost of installing wind turbines with any other off-grid renewable energy technology, it may seem relatively high in any part of the world.
This may act as an adverse factor, but when it comes to costs over the lifetime of a project, the comparison changes giving advantage to the small wind turbines. The prevailing trend in the market that we see for small wind turbines are their opportunity to sell excessive power to the main grid.
When the wind system produces more electricity than the household requires, the excess is sent to the utility grid.
Grid connected systems are ideal for conditions when the area has at least an annual average wind speed of 10 mph, or if utility supplied electricity is more expensive and utility’s requirements for connecting the system to grid are not expensive.