revenue per

delive delivered MW
ries (revenue/deliveri
year total revenue annual sales onshore wind turbines (MW) es)
2004 2.363 2784
2005 3.583 3.34 3185 1.05
2006 3.854 3.577 4239 0.843
2007 4861 4.497 4502 0.999
2008 6.035 5.624 5580 1.008
2009 6.636 6126 4764 1.286
2010 6.92 6.283 5842 1.075
2011 5.836 5115 5217 0.98
2012 7.216 6.298 6039 1.043
2013 6.084 5.082 4862 1.045
2014 6.91 5.839 6252 0.934
2015 8.423 7.825 7846 0.997
2016 10.237 8.928 9654 0.925
2017 9.953 8.431 8779 0.96
2018 10.134 8.496 10847 0.783
2019 12.147 10.276 12884 0.798
2020 14.818 12.764 17212 0.742

Sl.no Year
1 2006-2007
Services
2 2007-2008
140
3 2009-2010
120 4 2010-2011
100 5 2011-2012
6 2012-2013
Giga Watts

80
7 2013-2014
60
8 2014-2015
40 9 2015-2016
20 10 2016-2017
11 2017-2018
0
2011 2012 2013 2014 2015 2016 2017 2018 2019 202012 2021 2018-2019
Years 13 2019-2020
14 2005-2020
 order intake average selling
(MW) (Use as price in mEUR per
order intake quantity in MW (use as price order backlog -wind order backlog -wind
(bnEUR) analysis) in analysis) turbines (bnEUR) turbines (MW)

3
4.9 5559 0.881 4
5.5 5613 0.98 4.8 4415
6.4 6019 1.063 5.2 4806
3.2 3072 1.042 5.4 5015
8.6 8673 0.992 7.7 7622
7.3 7397 0.987 9.6 9552
3.8 3738 1.017 7.1 7156
5.8 5964 0.972 6.8 7417
5.8 6544 0.886 6.7 7513
8.2 8943 0.917 7.9 8732
9.5 10494 0.905 8.5 9530
8.9 11176 0.796 8.8 11492
10.6 14214 0.746 11.9 15646
13.8 17877 0.772 16 20974
12.7 17249 0.736 15 21048

Elasticity of
∆Q/Qavg ∆P/Pavg Demand (Ep)
0.0096670247046 0.106394411607 0.090860267552
0.0698074277854 0.081253059227 0.859135993769
-0.648333516665 -0.019952494062 32.49385839475
0.9537675606641 -0.049164208456 -19.39963218391
-0.158805227131 -0.0050530571 31.42755444928
-0.657207004939 0.02994011976 -21.95071396498
0.4588744588745 -0.045248868778 -10.14112554113
0.0927406459866 -0.092572658773 -1.001814652576
0.3098082262543 0.034387132557 9.009423095749
0.1595925297114 -0.01317233809 -12.11573288059
0.0629441624365 -0.128159905938 -0.491137707819
0.2393068137062 -0.064850843061 -3.690111067349
0.2282883051323 0.034255599473 6.664262445977
1.0250789196773 -0.179344465059 -5.715698665925
 produced produced service
and and service in price per
shipped shipped total GW (use GW in mE
average backlog wind wind world annual as quanity (use as
price in mEUR per turbines turbines market in sales in price in
MW (MW) (number) MW service analysis) analysis)

3915 0.172
4313 2533 0.214
1.087 4974 2752 0.298
1.082 6160 3250 0.396
1.077 6131 3320 0.504
1.01 4057 2025 0.623
1.005 5054 2571 0.705
0.992 6171 2765 0.886 43 20.6
0.917 4513 2025 0.954 44 21.68
0.892 6125 2527 0.964 47 20.51
0.905 7948 3330 1.138 57 19.96
0.892 9957 4264 1.309 71 18.44
0.766 11237 4241 1.522 75.8 20.08
0.761 10676 3729 1.669 86 19.41
0.763 12618 4185 1.871 96 19.49
0.712 17055 5239 2.055 117 17.56

2012 43
2013 44
2014 47
2015 57
2016 71
2017 75.8
2018 86
2019 96
2020 117
accumula order
ted GW backlog-
delivered service
by Vestas (bnEUR)
(Regressi (regressio
on n
analysis) analysis)
15
19
23
27
32
38
44.114 2.8
49 3.9
55.37 5.3
60 6.7
66 7
74 8.9
82 10.7
88 12.1
101 14.3
113 17.8
129 20.5
 Smoothing Factor = 0.2 Smoothing Factor = 0.4 Smoothing Factor = 0.8
Absolute Squared Absolute Squared
Year Actual Forecast Error Error Forecast Error Error Forecast
2012 43
2013 44 43 1 1 43 1 1 43
2014 47 43.2 3.8 14.44 43.4 3.6 12.96 43.8
2015 57 43.96 13.04 170.0416 44.84 12.16 147.8656 46.36
2016 71 46.568 24.432 596.9226 49.704 21.296 453.5196 54.872
2017 75.8 51.4544 24.3456 592.7082 58.2224 17.5776 308.972 67.7744
2018 86 56.32352 29.67648 880.6935 65.25344 20.74656 430.4198 74.19488
2019 96 62.25882 33.74118 1138.467 73.55206 22.44794 503.9098 83.63898
2020 117 69.00705 47.99295 2303.323 82.53124 34.46876 1188.096 93.5278
2021 78.60564 96.31874 112.3056
Total 178.0282 5697.596 133.2969 3046.742
Mean 22.25353 712.1996 16.66211 380.8428
Smoothing Factor = 0.8
Absolute Squared
Error Error

1 1
3.2 10.24
10.64 113.2096
16.128 260.1124
8.0256 64.41026
11.80512 139.3609
12.36102 152.7949
23.4722 550.9444

86.63195 1292.072
10.82899 161.5091
 Smoothing Factor = 0.2
Absolute
Year Actual Forecast Error
2006 5559
2007 5613 5559 54
2008 6019 5569.8 449.2
2009 3072 5659.64 2587.64
2010 8673 5142.112 3530.888
2011 7397 5848.29 1548.71
2012 3738 6158.032 2420.032
2013 5964 5674.025 289.9747
2014 6544 5732.02 811.9797
2015 8943 5894.416 3048.584
2016 10494 6504.133 3989.867
2017 11176 7302.106 3873.894
2018 14214 8076.885 6137.115
2019 17877 9304.308 8572.692
2020 17249 11018.85 6230.154
2021 12264.88
Total 32954.26
Mean 4119.282
thing Factor = 0.2 Smoothing Factor = 0.4 Smoothing Factor = 0.8
Squared Absolute Squared Absolute Squared
Error Forecast Error Error Forecast Error Error

2916 5559 54 2916 5559 2643 6985449

201780.6 5580.6 438.4 192194.6 5602.2 416.8 173722.2
6695881 5755.96 2683.96 7203641 5935.64 2863.64 8200434
12467170 4682.376 3990.624 15925080 3644.728 5028.272 25283519
2398504 6278.626 1118.374 1250761 7667.346 270.3456 73086.74
5856553 6725.975 2987.975 8927997 7451.069 3713.069 13786882
84085.3 5530.785 433.2148 187675 4480.614 1483.386 2200435
659311.1 5704.071 839.9289 705480.5 5667.323 876.6772 768563
9293863 6040.043 2902.957 8427161 6368.665 2574.335 6627203
15919039 7201.226 3292.774 10842363 8428.133 2065.867 4267807
15007052 8518.335 2657.665 7063181 10080.83 1095.173 1199405
37664179 9581.401 4632.599 21460971 10956.97 3257.035 10608275
73491047 11434.44 6442.559 41506570 13562.59 4314.407 18614107
38814813 14011.46 3237.536 10481637 17014.12 234.8814 55169.27
15306.48 17202.02
1.91E+08 24439.23 1.01E+08 15901.76 44340964
23866674 3054.904 12584380 1987.72 5542620