I have raised peacocks for several years, the males shed their tail once a year, they shed a few feather's at a time until all the the plumage (Fancy feathers) is gone. They begin to regrow the feathers each spring before the breeding season. If they did not, they would be more vulnerable to predators, as the tail makes it a bit harder to fly, though under stress the peacock will shed the feathers to escape a hold on his tail. Also if the feathers were not renewed each year the damage caused by day to day life would make a poorer showing each year. Body feathers shed a few at a time all year long, and as a general rule each feather is replaced annually, (Only one pair of flight feathers at a time). Also of note, the display of the tail is not just the fanning we all know, but includes a shiver that causes a rattle as feather shafts strike each other.
