USA: Wind Forecasting Revenue Will Surpass USD 300 Million by 2020, Says Navigant Research

According to a new report from Navigant Research, annual revenue from meteorological towers, or met towers, and remote sensing devices for wind forecasting will surpass $300 million by 2020.

Record worldwide growth for wind power in recent years has led to increasing need for variable wind generation to integrate effectively on the larger power grid. As a result, wind forecasting and data analytics technologies have become a key element in the rapid deployment of wind plants.

“Wind, as a fuel, is free, but wind plants are capital-intensive and require exhaustive study,” says Feng Zhao, managing consultant with Navigant Research. “With wind now playing an increasingly important role in utilities’ overall energy portfolios, wind forecasting technologies and rigorous data analysis have become essential not only to improve grid integration, but also for wind turbine optimization.”

As wind turbines grow in size, the value proposition for using met towers alone is rapidly vanishing, according to the report. A large proportion of turbine deployments in North America and Europe now use 100-meter hub heights, meaning that a typical 60-meter met tower introduces additional uncertainty at those heights. Since most 100-meter towers are not cost-effective for project site assessment, remote sensing devices – including sound detection and ranging and light detection and ranging systems – have entered the market in recent years.

The report, “Wind Forecasting and Data Analytics”, examines the market for remote sensing devices and met towers for wind forecasting, as well as disruptive remote sensing-based wind turbine control technology. Market drivers and barriers, along with key technology issues, are examined in detail, and profiles of key industry players, including hardware and service providers, are included. The report also provides market forecasts for demand for and revenue from wind forecasting technologies, segmented by region, through 2020.

[mappress]

Press release, May 29, 2013; Image: GL