HVAC Breaking News

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

April 1, 2008
/ Print / Reprints /
ShareMore
/ 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.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
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.

DON'T MISS A THING

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

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con