Apr 21 2014
Global Information Inc. announces the addition of a new market research report "Wind Turbine Systems (US Market & Forecast)" at GIIResearch.com
US demand for wind turbine systems is forecast to increase 55 percent annually through 2018 to $18.9 billion, a nearly ninefold increase over depressed 2013 sales. Demand was adversely affected in 2013 by the record number of sales, valued at more than $25 billion, the previous year. The number of new installations in 2012 nearly doubled the amount of new installed capacity in 2011. This spike in sales was the result of electric utilities and other entities pushing up the timeline of many wind turbine projects to take advantage of the production tax credit, which was due to expire at the end of 2012. As a result, when the production tax credit was renewed in January 2013, there were few orders left in the pipeline. In fact, through the first three quarters of 2013, less than 75 megawatts of new wind power capacity was added in the US. The fourth quarter of 2013 saw a rush of installations similar to 2012, albeit to a significantly lesser degree, as firms again sought to take advantage of the expiring production tax credit. However, the production tax credit was left to expire at the end of 2013 and, as of March 2014, there has been no attempt to renew it.
Going forward, advances in wind turbine system sales will be driven by the need for most states to achieve renewable portfolio standard benchmarks through 2018 and beyond. In addition, growth will benefit from ongoing demand for small wind turbine systems from a small base, as well as continuing interest in developing renewable energy resources that are cleaner and not subject to fuel price shocks. The emerging off-shore wind industry, which is expected to see its first significant wind turbine installation during the forecast period, will provide further gains. However, the uncertain future of the federal production tax credit and other incentives for wind energy will serve to prevent even more robust sales.
Table of Contents
INTRODUCTION
I. EXECUTIVE SUMMARY
II. MARKET ENVIRONMENT
III. WORLD MARKET
IV. WIND TURBINE SYSTEMS
V. APPLICATIONS
VI. REGIONAL MARKETS
VII. INDUSTRY STRUCTURE
COMPANY PROFILES
LIST OF TABLES
More detailed information is available at
http://www.giiresearch.com/report/fd79628-wind-turbine-sys.html
Media Contact: Joe Malley, Global Information, Inc., 860-674-8796, [email protected]
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Source: http://www.giiresearch.com