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Numbers say it all. Globally, progress in the wind sector continues to be strong with increasing annual installed capacity and growing investment in the sector. In 2015 alone, 63,013 megawatts of wind power capacity was installed globally, an annual market growth of 22 percent. It is continuing its progress towards becoming a mainstream, competitive and
reliable power source in both developing and mature markets. In fact, wind is becoming cheap enough in many places in the U.S. and around the world to compete effectively with fossil fuels.

As wind energy continues to gain ground, let’s take a look at three main trends we are best seeing in the thermal power sources and natural gas industry moving forward:

1. The Formation of Strategic Partnerships

Thomas Edison may have been behind the invention of the electric light bulb, but he [Edison] did not work along side partners, both financial and commercial, to get his inventions off the ground, and without these partnerships, the light bulb as we know it today may never have taken off.

Throughout the wind sector, this type of partnership and collaboration is crucial. Battling challenging cost targets and the need to build wind power closer to urban areas, wind operators must form long-term strategic collaborations to maintain and increase wind’s competitive edge. Maintaining a long-term partnership with a supplier or original equipment manufacturer will not only save time but can also save costs through economies of scale.

In fact, wind is becoming cheap enough in many places in the U.S. and around the world to compete effectively with fossil fuels local economy. But manufacturing basic level components locally, also helps to eliminate long-distance transport costs, for the large components in particular.

2. The demand for localization

Thomas Edison may have been behind the invention of the electric light bulb, but he did not work alone. Edison worked alongside partners, both financial and commercial, to get his inventions off the ground, and without these partnerships, the light bulb as we know it today may never have taken off in the way that it did—and he’s not the only one. Some of the world’s most effective business models and companies have been forged through complementary and long-standing partnerships, resulting in products and services that have defined completely new industries.

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