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Albany, NY -- (SBWIRE) -- 01/22/2016 -- The global small wind turbines market is projected to expand significantly in the foreseeable future, analysts expect. The research study also offers actionable insights to clients with financing guidelines for wind energy projects and regulatory incentives and state government policies related to key regional markets.
Small wind turbines (up to 100 KW) power individual farms, homes, or small businesses. These turbines are mounted on freestanding towers and can be installed on properties that occupy as less as one acre of land. Furthermore, small wind turbines, unlike large wind turbines, do not need huge project financing. Some of the key market countries in the global small wind turbines market are the U.K., the U.S., Canada, Spain, Germany, China, and India. In Europe, nations such as Spain, Germany, Ukraine, and Sweden will lead, while in Asia Pacific it will be India and China.
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In China, the small wind turbines market will thrive as this region has many remote areas lacking access to the grid. Installing small turbines to power homes and businesses in these locations is readily considered. On the other hand, the U.S. market is projected to decline in the coming few years while the U.K. and China markets will thrive.
The overall small wind turbines market will thrive in the coming few years due to favorable financial incentives and government policies. Furthermore, the growing need for energy and environment security coupled with technological improvement will drive the global small wind turbines market. Nevertheless, administrative hurdles and supply chain bottlenecks will suppress the market.
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