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Home » Market Report » Turbines for clean energy 

Turbines for clean energy 

June 7, 2024 2:40 pm

Turbines for clean energy 
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The transition to a decarbonised energy sector has placed wind power as one of the fastest-growing energy sources today, with hundreds of thousands of wind turbines giving over 740 gw of capacity worldwide.

A wind turbine turns wind energy into electricity using the aerodynamic force from the rotor blades, which work like an aeroplane wing or helicopter rotor blade. Among electricity-generation products, wind turbines are expected to grow the fastest. 

Wind turbines have the potential of most robust growth prospects and favourable circumstances among energy generation capacities. Many regions worldwide are augmenting wind energy development to meet renewable energy targets. Many of these renewable energy targets are planned for 2025, and new wind energy installations are expected to come up in 2024. 

The demand for electrical power has escalated as a result of expanding industrialisation and the growing use of electrical appliances in fledgling countries, and according to the Ministry of Statistics and Program Implementation of the Government of India, utility power output climbed from 13 03,583 GWh in 2022-2029 to 13,71,779 GWh in 2022, a 5.24 percent yearly increase. 

With the rapidly growing need for alternative energy sources such as wind, hydro and natural gas, turbines that are harmonious with numerous renewable sources are becoming more common. 

Driving market growth 

By 2040, it is predicted to have an electrical consumption of over 39,000 TWh, which would provide openings for the market to expand. Wind turbines are now used for power generation after being employed for sailing, agriculture, grinding, and other purposes. 

The surfacing of wind turbines is transforming the power generation industry, driving market growth significantly. The transformation stems from several elements, including the declining cost of wind power, reinforcing competition among wind turbine manufacturers, growing environmental concerns prompting a shift towards renewable energy sources, and technological evolution that enhances turbine efficiency and output. As a result of these driving forces, wind turbines are becoming more cost-efficient than traditional fossil fuel-based power generation methods, making them a more appealing option for both energy producers and consumers.

Turbines offer systematic, well-planned energy conversion critical in power generation, aerospace, and renewables like wind and hydropower. Turbines are decisive in conveying energy needs and reducing environmental impact, connecting them to diverse sectors and the evolving energy landscape. The rising energy demand, progress in turbine technology and a global shift towards sustainable energy sources propel the extensive use of turbines.

Investments boost

Investments in turbines are on the rise due to several factors. Growing energy demand and moving towards sustainable practices prompt increased funding for turbine technologies. Ruling governments worldwide incentivise clean energy and foster investment in wind and hydropower turbines. 

Moreover, headway in turbine capability and credibility contribute to an improvement in the confidence of the investor. Additionally, the expanding aerospace and marine industries are fuelling the demand for gas turbines. These combined factors drive a surge in investments, positioning turbines as critical components in diverse sectors.

India is a noteworthy country that uses coal power plants to generate most of its electricity. It has a total installed capacity of roughly 80 gw (wind and hydro energy). The turbine market in the region is anticipated to expand appreciably.  

Reference Sources – 
Energy. Gov — energy.gov/eere/wind/how-wind-turbine-works-text-version
Dept of Energy — www.energy.gov
Energy Education– energyeducation.ca
Dept of Energy — www.energy.gov

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