24 March 2010

Renewables Top 140 Billion Dollars In Global Revenues

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Following one of the worst years in economic history, signs of hope have begun to emerge for the clean-tech sector, with clean energy becoming a driving force for global economic recovery from Beijing to Seoul, and Washington D.C. to Brussels

In 2009, combined global revenue for the three major clean-energy sectors - solar photovoltaics (PV), wind power, and biofuels - grew by 11.4 percent over 2008, reaching $139.1 billion. These three sectors are expected to reach $325.9 billion by 2019, according to the Clean Energy Trends 2010 report issued this week by Clean Edge Inc., a research and publishing firm devoted to the clean-tech 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," said Ron Pernick, Clean Edge co-founder and managing director.

"From the smart grid and energy efficiency to renewable energy generation and advanced battery storage, clean tech continues to be a major driver of regional job growth, economic recovery, and technological competitiveness."

(BioFuelDaily.com)

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