A new study, released today by the Pew Charitable Trust, analyzes the past, present and future of the global clean energy marketplace. Worldwide, the report projects the clean energy economy will continue to gather momentum and could generate as much as $1.9 trillion in revenue by 2018.
Over the past decade, the clean energy industry in the United States has experienced a steady rise – creating thousands of job opportunities in the process. An estimated 152,000 Americans are employed in the biomass sector, 100,000 in solar, and 75,000 in wind. The clean energy sector is also contributing to the revitalization of our domestic manufacturing industry. In particular, the wind industry has developed a significant domestic supply chain – with more than 450 manufacturing facilities located in the U.S.
Looking ahead, cumulative clean energy installations (for non-hydroelectric clean energy generation) in the United States are expected to more than double – reaching 126 GW by 2018. The sector is expected to continue to boost economic growth – with cumulative revenue projected to reach $269 billion.
Facing increasingly stiff international competition from Europe and Asia – U.S. dominance of the global clean energy marketplace is less than certain. For America to continue to leverage the economic opportunities presented by this industry, the report emphasizes the critical-importance of continued clean energy policy support over the coming years.
Learn more about the global clean energy marketplace, by checking out the full report: Innovate Manufacture, Compete: A Clean Energy Action Plan.