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Utility Scale Wind Turbines market Will reach at CAGR % with Significant Growth

Utility Scale Wind Turbines marketWorldwide Utility Scale Wind Turbines markets are poised to achieve significant growth as wind electricity generation has reached cost parity with fossil fuels and demand for more electricity generation is coming with the increased use of electric vehicles.

According to Susan Eustis, the lead author of the study, “the use of utility scale wind generators represents an emerging high growth market. New technologies have increased the efficiency of wind based electricity generation and of systems installations both onshore and off shore. The evolution of hydrogen campus fuel cell systems will introduce electricity storage that makes the wind generation systems even more cost efficient. Thin film battery storage of electricity in the electric vehicles and in hardened cases on the ground will increase the efficiency and consistency of wind generated electricity delivery”.

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The enormous size of the existing market gives a significant market thrust going forward, because the major vendors and their customers have access to capital markets. This access is needed to achieve the significant growth that will be achieved as wind and solar energy replace the fossil fuel industry. Only natural gas will compete with the renewable sources of energy for utilities as new capacity is put in place and aging existing facilities are retired, to be replaced with more modern facilities.

Electric vehicles provide a significant market thrust to the need for wind generated electricity. Electric vehicles will depend on curbside and garage based metered delivery of electricity. Electricity generated from renewable sources will replace gasoline in the future.

Wind power systems have proved that they can readily be accommodated into existing fossil fuel and nuclear electric system operations reliably and economically. Wind Turbines are achieving combination with natural gas systems to create a hybrid unit that operates continuously.

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