Energy Projects Renewable Energy Boom Drives Wind Turbines to 4.8 GW in 2025
The global cumulative installed capacity of small wind turbines will increase more than fivefold from 912.6 Megawatts in 2014 to 4.8 Gigawatts (GW) by 2025, at an impressive Compound Annual Growth Rate (CAGR) of 16.4 per cent, according to research and consulting firm Global Data.
The latest Global Data report states that small wind power capacity, which refers to wind turbines with capacities lower than 100 kilowatts, is expected to grow in European countries including Germany, Spain, Poland, Sweden, and Ukraine, while India and Japan will lead the growth in Asia. Small wind turbines are used to power individual homes, farms and small businesses. They are mounted on freestanding towers and can be installed on properties with as little as one acre of land, using different materials and technologies to large wind turbines, and have the advantage of not requiring huge project financing.
Harshavardhan Reddy Nagatham, Global Data’s Analyst covering Power comments, “Small wind turbines are indispensable, and independent of state-sponsored promotions. The end-user cost is the most crucial factor affecting market growth in both developed and developing countries. As energy concerns rise, the small wind turbines will emerge as a cheap and convenient solution to growing anxieties over power supply, and will therefore be in substantial demand.”