Wind Turbine Lenses: Introduction
Wind turbine lenses are a type of wind power system, comprising a brimmed ring structure that surrounds the rotor that causes wind to pass through the turbine. Wind turbine lens are used to improve the power output of an existing wind turbine. It can generate two to five times the power of an existing wind turbine at the same rotor diameter and incoming wind speed.
Key Drivers and Restraints of Wind Turbine Lenses Market
Increase in efforts to enhance the output power of wind turbine in order to meet the rising demand for electricity is expected to drive the global wind turbine lenses market. For instance, electricity consumption in Asia increased from 8,866 TWh in 2015 to 10,716 TWh in 2019. Wind turbine lenses can optimize the power output of a wind turbine by two to five times compared to conventional wind turbine.
Rise in investment in wind projects due to the growth in awareness about green energy and enactment of stringent government rules and regulations on emission of greenhouse gases (GHGs) and carbon is a key factor anticipated to propel the global wind turbine lenses market during the forecast period
Availability of inexpensive alternate sources of energy such as solar, hydro power, and fossil fuel is estimated to restrain the wind energy market. Sales of wind turbine lenses depend directly on the sales of wind turbines. This, in turn, is projected to hamper the global wind turbine lenses market during the forecast period.
COVID-19 Impact Analysis
In the initial phase of the COVID-19 outbreak, lockdowns were imposed across the globe to limit the spread of the disease. This led to restriction on the movement of goods and individuals, thereby impacting wind energy projects.
Various countries announced significant investments in wind energy projects in the second quarter of 2020. Investors in wind energy announced plans to introduce 28 new offshore wind farms worth US$ 35 Bn in 2020, four times more than that in the first half of 2019.
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