Advanced energy represents $1 trillion global market

USA: A new report released by Advanced Energy Economy shows that advanced energy was a $1.1 trillion global market in 2011, larger than pharmaceutical manufacturing worldwide.  The first-ever analysis of the advanced energy sector also shows 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 US revenue rising to $157 billion.

Including direct, indirect, and induced economic activity associated only with the domestic market, advanced energy added an estimated $145 billion to US Gross Domestic Product in 2011, and generated more than $20 billion in federal, state, and local taxes.

"Advanced energy is what happens when energy meets 21st Century technologies," said Graham Richard , CEO of Advanced Energy Economy, a national business organization. "This report defines precisely, for the first time, the size, breadth, and scope of the advanced energy industry. With a $1 trillion global market and a U.S. industry that is already bigger by revenue than trucking, advanced energy is a significant contributor to the economy today and has greater potential for tomorrow."

AEE defines advanced energy as the best available commercial technologies for meeting energy needs today and tomorrow. With global energy consumption projected to rise nearly 40 percent by 2030, future prosperity depends on meeting this growing demand with energy that is secure, clean and affordable. 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 US and around the world.

"Telling the story of advanced energy has to start with the facts," said Tom Steyer , a founder and co-chair of the Advanced Energy Economy Institute. "This report helps to define advanced energy as a business category and in dollars-and-cents terms. Advanced energy is here today."

"It is time we moved beyond categories like 'clean' and 'dirty' and recognize that advanced energy represents the future of energy," said Hemant Taneja , managing director of General Catalyst Partners and a founder and co-chair of Advanced Energy Economy. "This report shows that advanced energy has already established a substantial footprint on the world economy and the US industry is a large and growing part of it."