Wind Turbine Market Value Share, Supply Demand, share and Value Chain 2014-2020
Wind energy is the power extracted from wind using wind turbines. A wind turbine is a device that transforms the kinetic energy of the wind into electrical energy. Wind energy is a renewable form of energy that is available in ample quantity and extensively. It is an alternative to fossil fuels which are depleting in quantity. Wind energy is the cleanest resource; it has neither toxic gas emissions nor greenhouse gas emissions. Wind turbines are connected to the network of electricity transmission. The onshore and offshore wind that is trapped is an inexpensive, competitive and significant source of energy. Wind energy contributed to 4% of the total global electricity usage in 2013.
Wind energy is the power extracted from wind using wind turbines. A wind turbine is a device that transforms the kinetic energy of the wind into electrical energy. Wind energy is a renewable form of energy that is available in ample quantity and extensively. It is an alternative to fossil fuels which are depleting in quantity. Wind energy is the cleanest resource; it has neither toxic gas emissions nor greenhouse gas emissions. Wind turbines are connected to the network of electricity transmission. The onshore and offshore wind that is trapped is an inexpensive, competitive and significant source of energy. Wind energy contributed to 4% of the total global electricity usage in 2013.
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Report Description<br />
The industrial use can be further divided into power generation, agriculture, industrial automation,<br />
engineering <strong>and</strong> telecommunication. Despite being commercially niche market at present, wind turbines are<br />
expected to exp<strong>and</strong> due to increasing government subsidies <strong>and</strong> incentive programmes on the use of wind<br />
energy.<br />
The global wind industry produced about 37,000 MW in 2013. Latin America, in particular, has provided the<br />
industry with an essential substitute growth market for wind power. In 2013, Latin America alone<br />
representedapproximately 45% of the installed capacity of North <strong>and</strong> South America combined. It was<br />
largely driven by the wind markets of Brazil <strong>and</strong> Mexico which can be regarded as the dual pillars of the Latin<br />
American market. The average price of wind energy contracts in Brazil is US$ 50/MWh <strong>and</strong> gives wind energy<br />
an edge over conventional fossil fuels there. This is a major driver for the wind turbine market in Brazil. The<br />
wind power in Mexico provides power to over 65,000 households <strong>and</strong> exports it to US. Food <strong>and</strong> beverage<br />
company, Nestle, had invested US$ 60.7 million in wind energy in Mexico, <strong>and</strong> employed wind energy for its<br />
85% electricity requirement. The cumulative wind capacity in Mexico reached 1988 MW by the end of 2013<br />
indicating a 31.4% growth rate. The installed capacity in 2013 was 76 MW in Argentina, 200 MW in Chile, 30<br />
MW in Peru, 11 MW in Uruguay, <strong>and</strong>149 MW in Venezuela.<br />
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Strong wind resources, <strong>and</strong> rising electricity prices <strong>and</strong> energy dem<strong>and</strong> are driving the dem<strong>and</strong> for<br />
renewable energy higher. The Latin American industrial policies are effective as they have tailored<br />
depreciation tax policies which enable industries to actively partner with wind energy generators for their<br />
energy usage.
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