Jan 25 2011
Lucintel has released a new report on global solar and wind power markets titled, ‘Benchmarking of Wind with Solar Energy 2011-2016: Cost, Profit and Opportunity Benchmarking’. The solar and wind power markets are growing across the world as China, the US and the rest of the world are seeking greener and sustainable methods to produce electricity.
Lucintel predicts that the solar photovoltaic industry is expected to attain $101 billion and solar thermal industry to attain $17 billion, while wind power market will reach $108 billion by 2016.
According to the report, the cost of wind power production is less when compared to that of solar thermal and solar photovoltaic. The wind power’s low capital cost gives an edge over solar thermal and solar photovoltaic. The wind power’s return on investment (ROI) is approximately 9% whereas that of both solar thermal and solar photovoltaic is nearly 8%. Normally, investors will make an investment only when an ROI is 8% or more. The internal rate of return on an average for wind power is 11%, which is also higher than that of solar power. Improving green power consumption along with the support of the government will coerce the growth of green energy.
Lucintel’s research report offers the investors a clear picture about the current trends and outlook of the market. The report benchmarks operational and deployment expenditure of wind and solar power along with the detailed analysis of risk and profit of producing power using renewable energy sources.
Source: http://www.lucintel.com