Advanced Energy Now 2016 Market Report Announces Advanced Energy Markets Are Bigger Than Ever

The future looks bright indeed for advanced energy markets. According to the recently released Advanced Energy Now 2016 Market Report, prepared for AEE Navigant Research, advanced energy is a $1.4 trillion global industry, as big as fashion, twice the size of airlines, and close to worldwide spending on media and entertainment.

USAEvsAirlinesPharmaConsumerElectThe report further states that the U.S. advanced energy market is now $200 billion, more than pharmaceutical manufacturing, and approaching wholesale consumer electronics. Energy sector growth highlighted in the report includes: Solar PV revenue grew 21% over last year, wind was up 75%, building efficiency grew 11%, and energy storage multiplied over 10 times year-to-year.

This is the fourth annual report of market size, by revenue, of the advanced energy industry, worldwide and in the United States and is the most comprehensive assessment of advanced energy markets compiled to date. The report includes five years of revenue, starting with 2011. Highlights from the U.S. market include:

  • Building Efficiency is the largest advanced energy market segment, with $63.6 billion in revenue and 50% growth over 2011, counting only products for which we have all five years of data.
  • Solar continues to be a dynamic growth story in the U.S. Even as costs have declined by nearly 50%, revenue from Solar PV reached$22.6 billion, up 21% over last year and nearly triple 2011 revenue.
  • Wind showed strong growth for the second year in a row, continuing to climb back from a low point in 2013 to reach $14.4 billion in 2015, up 75% over last year.
  • At $734 million, revenue from Energy Storage grew 12 times over 2014. This game-changing technology can provide grid support services, meet peak demand needs, and store variable renewable energy generation until it’s needed.
  • Ethanol revenue declined by a third over last year. The price of ethanol in the United States tends to follow the price of gasoline. Historically low oil prices brought Ethanol revenue from $40.9 billion in 2014 to $27.3 billion in 2015.
  • Revenue from Plug-in Electric Vehicles in 2015 grew seven times over 2011. At nearly $5 billion, revenue from PEVs in 2015 was nearly half that of hybrids, a more established class of advanced vehicle.

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