Clean Energy Markets to Quadruple by 2015, Says Report

March 15, 2006

Clean energy markets grew to $40 billion in 2005 and are poised to expand fourfold to $167 billion by 2015, according to a new report from Clean Edge, Inc., a clean technology research and publishing firm. "Clean Energy Trends 2006" examines biofuels, wind power, solar photovoltaic systems, and the fuel cell and distributed hydrogen markets, and predicts rapid growth for each. But it also warns of challenges facing each industry, including distribution channels for biofuels, rising steel costs for building wind turbines, a shortage of silicon for solar cells, and the slow adoption of fuel cells and hydrogen. Despite these challenges, the report calls clean energy "one of the fastest-growing technology sectors on the planet." Investment firm Nth Power is the lead sponsor of the report. See the report on the Nth Power Web site (PDF 521 KB). Download Adobe Reader.

The global growth in clean energy technologies appears likely to translate into positive economic benefits for the United States. In February, a report from consultant group Ernst & Young ranked the top 20 countries in terms of their ability to offer strong growth and attract capital investments in renewable energy technologies. In a near tie, Spain and the United States earned the top spots on the list. See the report, "Renewable Energy Country Attractiveness Indices," on the Ernst & Young Web site (PDF 675 KB).

Pennsylvania attracted a significant capital investment on March 7th, as Governor Edward Rendell announced that Gamesa Corporation, a Spanish wind energy company, is investing $34 million in three modern wind turbine manufacturing facilities in Fairless Hills, about 25 miles northeast of Philadelphia. The three plants will all begin production this year, employing more than 300 people in the manufacture of wind turbine blades, towers, and nacelles, which house the wind turbines. See the press release from the Pennsylvania Department of Environmental Protection.