Wind turbines that provide 100 KW or less of energy grew 78% in 2008 in the U.S., outpacing the general turbine market which grew 50% last year, according to study released by the American Wind Energy Association.
The growth is being attributed to increased private investment, economies of scale, increased awareness of small turbines, and rising electricity prices. Even with the impressive growth, it remains a tiny market. Global sales added up to just $156 million.
The AWEA sees a 30 fold increase in the market in the next 5 years, driven by the federal tax investment credit.
There’s plenty of enthusiasm about the prospects for small scale wind in the private world. GE sees it as a big oppotunity. As does David Prend at Rockport Capital, who’s firm is invested in a turbine company. He told us he thinks small turbines will be big with municipalities.
Business Insider Emails & Alerts
Site highlights each day to your inbox.