14 DAY TRIAL // A new report issued by researchers working with GlobalData says that, by the end of the decade, the global small wind power market will grow about five times its 2012 levels.
Thus, it will move from being worth some $609 million (€410 million) to being worth an impressive $3 billion ($2.21 billion).
Specialists say that this boom will largely be due to incentives schemes and an increased awareness that the world must move away from fossil fuels and invest in renewables instead.
Business Green tells us that, according to these figures, the market's Compound Annual Growth Rate financially-wise will be one of 22% until 2020.
In terms of energy generating capacity, the market is expected to have a Compound Annual Growth Rate of 26% within the same time frame.
Otherwise put, the total installed capacity of small wind turbines will up from 728MW in 2012 to more than 4,644MW by 2020.
The GlobalData researchers say that, all things considered, China and the United Kingdom will be the countries to invest the most in harvesting wind power.