Renewable Energy Markets to Exceed $220 B by 2016

[jpak]

http://www.renewableenergyaccess.com/rea/news/story?id=47696

Internationally, 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 in four key renewable energy sectors, according to a report released this week by the research and publishing firm Clean Edge, Inc.

The "Clean Energy Trends 2007" report highlights a number of factors contributing to this extensive growth, including an influx of venture capital (VC); a new level of commitment by politicians at regional, state and federal levels; and significant corporate investments in clean and renewable energy acquisitions and expansion initiatives.

"At $55 billion, the global market for biofuels, solar, wind and fuel cells are now considerably larger than the global recorded music industry," said Ron Pernick, co-founder of Clean Edge. "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."

For the second year in a row, the global biofuels market was slightly larger than both solar and wind, reaching $20.5 billion in 2006 and projected to grow to more than $80 billion by 2016. The report projects solar photovoltaics (modules, system components and installations) will grow from a $15.6 billion market in 2006 to $69.3 billion in the next ten years; 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.

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