A report released Tuesday by Advanced Energy Economy, a national association of business leaders, says that “advanced energy” was a $1.1 trillion global market in 2011, making it larger than pharmaceutical manufacturing worldwide.
Think Clean Tech, only more broadly defined.
The analysis finds that the market in the U.S. represents a significant part of the nation’s economy, with $132 billion in revenue in 2011, and a 19 percent growth rate estimated for 2012, with U.S. revenue rising to $157 billion.
The report was commissioned by the Advanced Energy Economy Institute, AEE’s educational and charitable affiliate, and produced by Pike Research, a part of Navigant’s Energy Practice.
AEE defines advanced energy as “the best available commercial technologies for meeting energy needs today and tomorrow” and says that global energy consumption is projected to rise nearly 40 percent by 2030.
“Just as the Internet economy transformed society in unexpected ways, the advanced energy economy has the potential to create dramatic new opportunities for economic growth in the U.S. and around the world,” says AEE.
AEE defines advanced energy somewhat broadly, including technologies and businesses in Hydropower, Gas Turbines, Solar, Wind, Geothermal, Marine, Waste, Biomass, Nuclear, and Other Distributed Generation. The definition doesn’t include natural gas or coal, even though some say natural gas is the “bridge” to a clean energy future.
“None of the extraction industries or technologies are included in advanced energy,” said Bob Keough, AEE’s VP of Communications.
AEE has affiliate organizations in 22 states, and is stressing data points like the fact that there are 25,000 jobs in the advanced energy economy in California. AEE’s board of directors includes FirstSolar chairman Michael Ahearn, Recurrent Energy CEO Arno Harris, Samir Kaul of Khosla Ventures, Jim Rogers of Duke Energy and others.