Clean Energy Markets Expand to $55 Billion in 2006, $220 Billion by 2016, Says Report
Global clean-energy markets are poised to quadruple in the next decade, growing from $55.4 billion in revenues in 2006 to more than $226.5 billion by 2016 for four benchmark technologies, according to a report released today.
March 06, 2007
Factors contributing to this growth include an influx of venture capital; a new level of commitment by politicians; and corporate investments in clean-energy acquisitions and expansion initiatives, according to the report issued by clean-tech research and publishing firm Clean Edge, Inc.
Clean Edge projects photovoltaics will grow from a $15.6 billion market in 2006 to $69.3 billion by 2016; wind power installations will expand from $17.9 billion in 2006 to $60.8 billion in 2016; and the markets for fuel cells and distributed hydrogen will grow from $1.4 billion in 2006 to $15.6 billion over the next decade.
The four leading categories of clean energy technologies will grow to US$226.5 million by 2016. (Source: Clean Edge, Inc.).
"At $55 billion, the global market for biofuels, solar, wind, and fuel cells are now considerably larger than the global recorded music industry," said Clean Edge co-founder and principal Ron Pernick on a conference call this morning. "Within a decade we predict these clean-energy markets will exceed $220 billion and that the global annual production of biofuels will increase from around 13 billion gallons last year to 50 billion gallons, solar will jump from 2 GW of production to nearly 20 GW, and wind power will increase from 15 GW to 67 GW. "
"Clean Energy Trends 2007" names five key trends that are shaping the clean-energy landscape this year. They include:
- Carbon Finally Has a Price...and a Market
- Biorefineries Begin to Close the Loop
- Advanced Battery Makers Take Charge
- Wal-Mart Becomes a Clean-Energy Market Maker
- Utilities Get Enlightened