Small wind set for ‘bright future’
Navigant predicts annual installed capacity of 446MW in 2026
Global annual installed capacity for small and medium wind turbines is expected to grow to 446MW in 2026 from 176.4MW in 2017, according to a new report from Navigant Research.
The report – ‘Market Data: Small and Medium Wind Turbines’ – concluded the sector is still poised for growth, despite weakening policy drivers and competition from declining solar prices.
It examines the competitive landscape, market and technology issues, and provides forecasts for capacity and revenue to 2026.
“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,” Navigant said.
The report found that wind lease programs are becoming a more popular business model and the applications for small wind turbines are expanding.
Developers are also expanding to different geographical areas as policies shift and demand changes, it added.
Navigant research associate Adam Wilson said: “With historically leading markets such as the US, the UK 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 favourable government incentives.
“We’re also seeing a shift with medium-sized turbines as their niche slowly shrinks as drivers continue to favour small wind turbines for distributed wind and larger multi-megawatt turbines dominating utility-scale applications.”