Market research Future Small Wind Power Market: Shares and Strategies . | Page 3

Small Wind Power Market Research Report- Forecast to 2023
2 Market Overview
Small wind turbines are used to power remote or off-grid applications such as homes, farms, refuges or
beacons. Intermediate-sized wind power systems can power a village or a cluster of small enterprises and
can be grid-connected or off-grid. Small wind turbines can be developed to meet the specifications suitable
for the domestic and international (developed and developing) markets. These turbines can be coupled with
diesel generators, batteries and other distributed energy sources for remote use where there is no access to
the grid. One of the primary drivers for the growth of small wind power market, is the important part played
by the government initiatives and policies. In many countries such as Japan and EU countries, policies such
as feed-in tariffs, net metering, tax credits, and capital subsidies are the major energy policies geared,
specifically, towards small wind. The small wind power sector has benefited particularly from the growing
global trend of feed-in tariffs (FITs). Moreover, adoption of small winds in several commercial applications
& rural households also fuel the growth of the market. However, high initial cost and fluctuating prices of
raw materials may hamper the growth of the market.
Drivers
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