Solar PV, Wind, and Biofuel Markets Expand 11.4% in 2009
Mar 18, 2010
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A new Clean Energy Trends report said that combined global revenue for the three major clean-energy sectors – solar photovoltaics (PV), wind power, and biofuels – grew by 11.4% in 2009 compared to 2008, reaching $139.1 billion.
Clean Edge's Annual Clean Energy Trends Report forecasts the three sectors to reach $325.9 billion by 2019. The report said
global solar PV and wind power industries together currently account for more than 830,000 jobs worldwide, and projected the total to grow to 3.3 million jobs by 2019.
The report projects wind power (new installation capital costs) to expand from $63.5 billion in 2009 to $114.5 billion in 2019. 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 a third of new installations, with 13,000 MW.
Solar PV is forecast to grow from a $30.7 billion industry in 2009 to $98.9 billion by 2019. New installations approached 6 GW worldwide in 2009, a nearly six-fold increase from five years earlier. However, rapidly declining solar PV prices caused industry revenue to fall about 20% in 2009, from $38.5 billion in 2008.
The report said the global production and wholesale pricing of ethanol and biodiesel reached $44.9 billion in 2009 and is projected to grow to $112.5 billion by 2019. In 2009, the biofuels market consisted of more than 23.6 billion gallons of ethanol and biodiesel production worldwide.
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