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.
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.
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U.S. was the leading producer of the energy through these sources, is anticipated to continue its
dominance in the smart wind market. According to Wind Vision Report in 2015, by Department Of
Energy in the U.S., projections of 20% of the required energy generation through its wind sources
by 2030, and is expected to surge to 35% by 2050. In conjunction with U.S. as the most lucrative
region, increased demands in Europe and Asia Pacific will also provide solid growth platform to
the smart wind market. Industry participants include Xcel Energy, GE Power, National Center for
Atmospheric Research, Omniflow, GaN Systems, Nextek Power Systems, and Nebula Energy.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-
ready syndicated research reports, custom market analysis, consulting services, and competitive
analysis through various recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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Mr. Shah
Coherent Market Insights
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Seattle, WA 98154