Clean-Energy Market Will Reach $92
Billion By 2013
Clean Edge - March 9, 2004
According to a new report released by Clean Edge,
Inc., solar, wind, and fuel cells are poised to grow
from a $12.9 billion industry today to $92 billion
by 2013.
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. The report can be downloaded at www.cleanedge.com.
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 US 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 earY
and 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.
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