Report Predicts $92 Billion Clean Energy Boom

According to a new report released by Clean Edge, a California-based energy research firm, solar, wind, and fuel cells are poised to grow from a $12.9 billion industry today to $92 billion by 2013.

San Francisco, California – March 11, 2004 [] The free report, entitled “Clean Energy Trends 2004,” examines the factors that are influencing clean-energy markets and tracks five key trends, including how some innovative utilities are using clean energy as a price hedge for customers, how China is poised to embrace new energy technologies, and how Europe is the leader in wind production with 70% of the global market. Clean Edge asserts that clean-energy technologies of are set to take off, but cites three factors as the key to bringing clean-energy to the mainstream: more supportive government policies, more dollars for R&D and commercialization, and continued technological advancements. “Assuming that solar, wind, and fuel cells continue their year-over-year growth, we foresee the clean-energy market reaching $92 billion by 2013” said Ron Pernick, co-founder of Clean Edge. “New government policies and continued investment from venture capitalists and multinationals are playing a critical role in what we see as a bright future for clean-energy growth.” Among the key “Trends to Watch” cited by Clean Edge: – Cleaner Cars Get Traction: Hybrids move from “curiosity” to mainstream, as a Japanese firm leads the way and American automakers are left behind. – Green Power Becomes Price Hedge: One U.S. energy utility’s vision of providing long-term green-energy contracts becomes a model for other utility companies. – Clean Energy Goes Local: Flagging federal funding incites state and local governments to pick up the slack, bringing clean energy within reach. – Wind Power Takes Europe by Storm: An estimated 14 million European households are being electrified by wind power, accounting for more than 70% of global installed utility-scale wind power. – China Harnesses Clean Energy: Home to seven of the world’s most polluted cities, China and its booming economy will be pivotal in turning the clean-energy market on its earýand several clean-energy companies have plans to help. The report also profiles companies that are spearheading each of the five trends, including Denso Corp. (clean cars); Austin Energy (price hedge); PowerLight Corp. (local initiatives); National Wind Power Ltd. (wind in Europe); and GT Solar Technologies (solar in China). “It’s useful to compare our projections for the growth of clean energy with the growth of the PC industry. In that respect, it’s the mid 1980s for wind and solar,” explains Joel Makower, co-founder of Clean Edge. “The technology is catching on, and prices, performance, and ease of use are improving.” Clean Edge projects that wind, solar, and fuel cells-three high-growth markets-will demonstrate annual double-digit growth rates, with wind growing from $7.5 billion to $47.6 billion, solar from $4.7 billion to $30.8 billion, and fuel cells and distributed hydrogen from $700 million to $13.6 billion over the coming decade.


Previous articleWind Could Power All European Homes by 2020
Next articleGrant allows nonprofit to install minisolar power system

No posts to display