Solar PV, Wind, Biofuel Markets Surge 35% in 2010
Mar 14, 2011
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Combined global revenue for solar photovoltaics (PV), wind power, and biofuels surged 35.2% in 2010, growing from $139.1 billion in 2009 to $188.1 billion in 2010 according to the report Clean Energy Trends 2011 from Clean Edge, Inc.
In the past decade solar PV showed an annual average growth rate of 40%.
Solar photovoltaics are projected to grow from a $71.2 billion industry in 2010 to $113.6 billion by 2020. New installations reached more than 15.6 GW worldwide in 2010, more than double 7.1 GW in 2009.
Wind power showed an average annual growth rate of 30%.
Wind power is projected in the report to expand from $60.5 billion in 2010 to $122.9 billion in 2020. The global wind market witnessed a slight year-over-year decline in market size for the first time since the market research firm began tracking this sector.
Biofuels reached $56.4 billion in 2010 and are projected to grow to $112.8 billion by 2020. In 2010, the biofuels market consisted of more than 27.2 billion gallons of ethanol and biodiesel production worldwide.
U.S.-based venture capital investments in clean tech increased 46% from $3.5 billion in 2009 to $5.1 billion in 2010, according to data provided by the Cleantech Group. Clean-tech’s percentage of total U.S. venture capital investments continued to rise, accounting for a record 23.2% of total U.S. venture activity in 2010.
Clean Edge, Inc., is research and advisory firm devoted to the clean-tech sector
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