New Reports Value Renewable Energy Economy at $1T, Predict Global Solar Market to Rise 22%, and Project Rapid Growth of On-site Power Generation - Energy Minute for January 25, 2013
A report by the Advanced Energy Economy Institute, a national association of businesses and business leaders for secure, clean,and affordable energy, have set the value of the “advanced energy economy” at a $1.16 trillion global market, as of 2011. The study finds that advanced energy in the U.S. generated $132 billion in revenue in 2011 and contributed $20.6 billion in combined federal, state and local tax revenue. The U.S. share of the global advanced energy market is expected to rise from 12 percent to 15 percent from 2011 to 2012, a 19 percent increase, with revenue rising to $157 billion.
Deutsche Bank predicts that the global solar market will rise 22 percent to 33.4 gigawatts in 2013, with gains in China, the U.S. and India offsetting declines in Germany and Italy. The Chinese market, the second biggest in 2012, will more than double to 10 gigawatts this year from 4 gigawatts last year, the Indian market will more than triple to 4 gigawatts, and the U.S. will rise 29 percent to 4.5 gigawatts, said the bank’s analysts in a report to investors. Those gains will offset declines in European markets, led by Germany and Italy, where demand will be cut in half, according to the bank. Those two countries were the biggest and third-largest markets in 2012, it said.
A new report from Verdantix projects that on-site power generation will grow and that energy storage will be the hot smart grid technology this year. The forecast is part of Verdantix’ list of major energy management trends for 2013. The report says Ikea has already installed solar power at 40 of its stores across seven countries, and has funding for an additional 124 projects, while BT plans to install 250 Megawatts of renewable energy across its UK sites by 2016. Verdantix is an analysis firm focused on energy, environment and sustainability issues for business.
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