featured with the ability to produce more kWhs over its long run. For instance, in February 2013,
GE introduced 2.5-120 turbine, which had relatively lower power output than its dominant 2.85
megawatt turbine. However, owing to the integration of arrays of sensors in conjunction with
algorithms it was featured with the capacity of producing around 15% more kilowatt hours.
These factors are expected to prominently drive the industry growth through the forecast
period.
Smart Wind Market Taxonomy
On the basis of components, the global smart wind market is classified into:
On-grid
Off-grid
On the basis of turbine axis, the global smart wind market is classified into:
Vertical axis wind turbines
Horizontal axis wind turbines
Declining costs per kWh owing to bigger turbines and economies of scale is expected to attract
large number of users
According to American Wind Energy Association (AWEA), unsubsidized costs of this energy
generation methodology in the country ranged from US$ 32 to 62 per MWh in 2016, which was
relatively lower to the gas combined cycle that ranged from US$ 48 to 78 per MWh, which was
the cheapest conventional energy source. Moreover, pricing trend has witnessed considerable
decline over the past few years. According to Coherent Market Insights, owing to these
advantageous factors, the number of deployment of wind farms is expected to increase over
1.5X in 2016, which will provide substantial opportunities for the smart wind market over the
next few years.
Read more about study @
https://www.coherentmarketinsights.com/ongoing-insight/smart-wind-market-640
Heavy upfront investments and threats to the wildlife are expected to be the major factors
that will continue to hamper the industry growth
The energy output of these sources fluctuates around the clock, dependent on the winds, owing
to which these cannot be directly use to supply base loads. Moreover, requirement of additional