Solar to give small wind a run for its moneyDespite competition with solar, the small wind turbine (SWT) industry will double globally in the next five years from 86 MW in 2012 to 172 MW in 2018, according to Navigant Research. SWT market maturation is illustrated by the expanded role of SWT certification, hundreds of manufacturers and dealer networks globally, and an increase in the number of national and regional industry associations. SWTs can also be seen in a number of new applications including telecommunications, defense, and other sectors that involve producing power in remote locations. "While the U.S. market for small wind turbines tries to regain momentum following the reduction or expiration of rebates and other key incentive programs in leading states, the overall market for SWTs is growing as a result of Feed-in Tariff (FIT) policies in the United Kingdom and Italy," said Dexter Gauntlett, research analyst, Navigant Research. "Beyond FITs, the small wind power market will be driven by growing demand for onsite generation, volatile diesel fuel costs, and China's growing need for power." Though the outlook for SWTs is positive, solar PV will give small wind a run for its money because of dramatic price reductions and new business models like leasing and third-party financing that, in large part, is not available to small wind customers. For more: © 2013 FierceMarkets. All rights reserved. http://www.fierceenergy.com
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