A new report from the Advanced Energy Economy Institute details the historic opportunity advanced energy represents for the U.S. Everything from electric and plug-in hybrid cars to advanced nuclear power plants are examples of advanced energy. Advanced energy diversifies energy sources, reduces health and environmental costs to communities and uses energy resources more efficiently.
The focus of advanced energy needs in America is largely on modernization efforts. In the U.S., the energy sector is a $1 trillion a year business, representing 8 percent of the GDP. There are more than 11,000 companies that identify as part of the industry that employed roughly 700,000 people in 2010. The U.S. has also attracted investment by some of the largest advanced energy companies from around the world.
According to the report:
In this global market, there is a growing preference for advanced energy solutions – the best available commercial technologies, products, and services for meeting energy needs today and tomorrow. The result has been the rapid creation of large global markets for advanced energy, ranging from the $68 billion commercial energy efficiency market to the $83 billion biofuels market and $84 billion wind power market.
For More information on how advanced energy is meeting the world’s energy needs, read the full report here.