As global temperatures rise and concerns over climate change are mounting, countries are increasingly focusing on renewable energy sources. One of the most popular of these sources is wind power. According to Infiniti Research, the cumulative installed wind capacity will reach 791.0 GW by 2020, growing at a CAGR of 12.81%. With many countries testing the limits of what wind and other renewables can provide, renewables such as wind will become more ubiquitous over the coming years. On February 22nd this year, Denmark successfully generated enough energy from its wind turbines to power the entire country for the day. It produced 97 GWh, which is the equivalent of powering 10 million EU households. This is just the latest success in the country’s efforts to improve its wind power generation. While 2016 saw low wind speeds for the country, leading to a break in Denmark’s continuous yearly growth in wind power generation, 2015 was a world record-breaking year. The country produced 42% of its power from wind, and despite a disappointing 2016, Denmark is well on its way to meeting its goal to have renewable energy make up 50% of its power generation.
This isn’t the only exciting news for Denmark in terms of wind energy in the past few months. MHI Vestas Offshore recently tested its new 9 megawatt wind turbine, which broke the energy generation record for a 24 hour period. With over USD 33 billion invested in wind energy across Europe last year and close to 90% of new energy construction focusing on renewables, this is a promising market to be in.
Every country takes a different approach to energy generation and regulation. Many governments offer various incentives for those producing and consuming renewable energy, including tax breaks and rebates. It can be difficult to identify opportunities and roadblocks in an unfamiliar market, and determine whether to begin operations in a new region or whether to introduce a new product. Market intelligence can help navigate laws and regulations, identifying risks and evaluating incentive programs. With the help of thorough research, you can be confident you have everything you need to move forward in a market.
Infiniti Research | http://www.infinitiresearch.com