Global clean energy markets to exceed $220 Billion by 2016

The sixth annual Clean Energy Trends report has been released which predicts a four-fold increase in the global clean-energy market over the next decade from $55.4 billion in revenues in 2006 to more than $226.5 billion by 2016. Tracked by the report are four benchmark technologies which can all expect their markets to dramatically rise: biofuels, solar, wind, and fuel cells. Key predictions centred around capacity increases for each of the technologies:

• Biofuels up from around 13 billion gallons last year to 50 billion gallons
• Solar up from 2 GW of production to nearly 20 GW
• Wind power up from 15 GW of production to 67 GW

Driving the massive expansion will be increased venture capital funding, political pressure and commitment, along with corporate investment in energy. The report also identifies five trends in clean energy:

• 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

Analysis: The movers and shakers are clearly starting to jockey for places in the clean energy market which is likely to outperform most others over the next ten years. Clean energy will be critical to ensuring that the looming plug-in electric vehicle revolution truly offers an environmentally friendly alternative to petroleum fuelled transportation.

Related:

• First new US nuclear plant in three decades approved
• Las Vegas leads US cities in alternative fuel use
• British Columbia sees biofuels as part of 2025 energy self-sufficiency plan

[Source: Clean Edge]