HVAC Breaking News

April 1, 2008: Four Clean Energy Markets Increased a Combined 40 Percent in 2007

April 1, 2008
/ Print / Reprints /
/ Text Size+

PORTLAND, Ore. - Solar photovoltaic products, wind power, biofuels, and fuel cells collectively experienced a 40 percent growth in revenues in 2007, according to a new report from Clean Edge Inc. Global revenues for the four clean energy markets increased from $55 billion in 2006 to $77.3 billion in 2007. And although the fuel cell and distributed hydrogen market remains relatively immature, with revenues of $1.5 billion in 2007, the three other renewable markets each exceeded $20 billion in revenue. Of the four energy markets, wind power earned the highest revenue, at $30.1 billion. In terms of production, the biofuels industry produced 13 billion gallons of ethanol throughout the world, as well as 2 billion gallons of biodiesel, while solar photovoltaic system installations fell just short of 3,000 megawatts.

The Clean Energy Trends 2008 report looks ahead 10 years and predicts that global installed solar photovoltaic capacity will increase eightfold, to 22,760 megawatts, global wind power capacity will nearly quadruple, to 75,781 megawatts, and biofuel production will nearly triple, to 45.9 billion gallons. It also projects a tripling of the three clean energy markets over the next 10 years, with the largest growth rate in the fuel cell and distributed hydrogen market, which grows more than tenfold to $16 billion. But for biofuels, wind power, and solar photovoltaic products, the projection actually represents slower growth compared to recent years. For instance, the solar photovoltaic market increased fivefold in the past four years and is projected to increase by a factor of 3.6 over the next ten years. That’s a 13.8 percent average annual growth in the coming decade, compared to 50 percent average annual growth over the past four years.

Publication date: 03/31/2008

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.


NEWSMakers: Jason Vogelbaugh

Jason Vogelbaugh of Alpha Controls drops in to the NEWSMakers podcast to discuss his role with the company, the InsideIQ Building Automation Alliance, and current energy-efficiency projects being worked on. Posted on Sept. 26.

More Podcasts


NEWS 09-29-14 cover

2014 September 29

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe


DOE has denied AHRI’s petition for reconsideration of walk-in standards. Is it getting harder to reach consensus on efficiency standards?
View Results Poll Archive


2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con