Markets for biofuels, photovoltaics, wind energy, and fuel cells are poised to expand four-fold in the next decade, according to an Annual Trends Report from research firm Clean Edge. The report finds that global clean energy revenues soared to $40 billion in 2005, but are expected to reach $167 billion by 2015.
Markets for solar photovoltaics are expected to grow from $11.2 billion in 2005 to $51.1 billion by 2015; wind power installations will expand from $11.8 billion last year to $48.5 billion in 2015; and fuel cells and distributed hydrogen will grow from $1.2 billion in 2005 to $15.1 billion by 2015, the report finds. “Last year was a seminal point in the growth of the clean energy markets, as investors, innovations, and industries converged to dominate the headlines,” said Clean Edge co-founder Ron Pernick.