According to a new market Research report "Onshore Wind Energy Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2014 - 2020". Visit: http://www.marketresearchreports.biz/analysis/2174
Albany, NY -- (SBWIRE) -- 09/26/2014 -- The energy alternative sources market intends to replace fuel sources for non-renewable sources in the environment. Apart from fossil fuels, alternative energy source is a term used to refer to an energy source as ‘Clean Energy,’ ‘Renewable Energy,’ or ‘Green Energy.’
The global concern over what forms of alternative energy have the subsidize fossil fuels and which are cost-efficient and safest to use still remains unresolved, as many government agencies are posing hindrances in an effort to back the fossil fuel industry.
Nevertheless, several modern energy companies are developing alternative fuel sources. Renewable energy sources – wind, geothermal, solar, biomass/biofuels, and hydroelectric are the rapidly growing energy sectors within the U.S. and other parts of the world. These segments are poised to become a significant portion of the total energy supply globally. There are no economic or technological barriers to transforming the globe to clean, renewable energy sources.
Wind energy is a relatively mature method of generating renewable energy. It has garnered significant share in the global renewable energy market due to its relatively mature technology and low cost of generation vis-à-vis other renewable energy sources. The wind industry’s rapid development in the past few years indicates its significant potential to create jobs, spur economic activity and reduce greenhouse gas emissions.
Onshore wind energy is a relatively old technology. It has emerged as one of the most developed renewable energy generation methods in use currently. Both project development experience and technology maturity for the onshore wind energy sector is relatively high. The market for wind turbine suppliers is consolidated in nature, with 10 major turbine suppliers accounting for nearly 75% of the annual installations in 2013. The high technology maturity component is one of the primary driving factors for wind energy. A large number of project developers exist in the market. These are duly supported by national government installation targets. This has helped boost investor confidence in the wind energy sector. The technology has achieved a certain degree of maturity; however, there is still ample scope for cost reduction through technological innovations and deployment of large multi-megawatt turbines.
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