Report: RE Markets Expand By 11.4% In 2009

In 2009, combined global revenue for the three major clean energy sectors – wind, solar photovoltaics and biofuels – grew by 11.4% over 2008, reaching $139.1 billion, according to the Clean Energy Trends 2010 report issued by Clean Edge Inc., a research and publishing firm devoted to the cleantech sector.

‘Despite severe economic conditions, clean energy markets were able to hold their momentum in 2009 as many regional and federal governments and private corporations focused on clean energy investments as a way to pull out of the global economic tailspin,’ says Ron Pernick, Clean Edge co-founder and managing director. ‘From the smart grid and energy efficiency to renewable energy generation and advanced battery storage, cleantech continues to be a major driver of regional job growth, economic recovery, and technological competitiveness.’

New installation capital costs for wind power are projected to expand from $63.5 billion in 2009 to $114.5 billion in 2019, according to the report. Last year's global wind power installations reached a record 37,500 MW. China, the first-time global leader in new installations, accounted for more than one-third of new installations, with 13,000 MW.

U.S.-based venture capital investments in energy technologies declined from $3.2 billion in 2008 to $2.2 billion in 2009. However, clean energy's percentage of total U.S. venture capital investments continued to rise, accounting for 12.5% of total activity in 2009, according to the report.

SOURCE: Clean Edge Inc. Â Â

LEAVE A REPLY

Please enter your comment!
Please enter your name here