Wind lease programs becoming popular business model, applications for small wind turbines are expanding
A new report from Navigant Research analyzes the global market for small and medium wind turbines (SMWTs), examining the competitive landscape, market issues, and technology issues, and providing forecasts for capacity and revenue, through 2026.
Despite weakening policy drivers and competition from declining solar PV prices, the SMWT industry is still poised for growth.
“With historically leading markets such as the United States, the United Kingdom, and China seeing declining annual installed capacities of small and medium wind in recent years, other countries such as Japan, Denmark, and Italy are emerging as forces in the distributed wind market thanks to favorable government incentives,” says Adam Wilson, research associate with Navigant Research.
With a large amount of wind resource potential still available, plus several growing and emerging markets, the industry is anticipated to sustain itself into the foreseeable future.
“We’re also seeing a shift with medium-sized turbines as their niche slowly shrinks as drivers continue to favor small wind turbines for distributed wind and larger multi-megawatt turbines dominating utility-scale applications,” said Wilson.
As the SMWT market continues to mature, wind lease programs are becoming a more popular business model, and the applications for small wind turbines are expanding, according to the report.
Key industry players, however, are beginning to set themselves apart as market innovators by seeking out and expanding to different areas around the globe as policies shift and demand changes.
The study provides an analysis of the market issues, including demand drivers and challenges, associated with SMWTs.
Global market forecasts for capacity and revenue, segmented by region, extend through 2026. The report also provides an overview of the technology issues related to SMWTs, as well as the competitive landscape.