Clean-tech: a decade of explosive growth with more to come
March 14, 2011
From the Los Angeles Times: What a difference a decade makes. Once shunned as an industry only a tree-hugger could love, clean-tech has blossomed into an economic heavyweight, according to a report from research firm Clean Edge Inc.
Companies working on green construction and the smart grid are proliferating, the study said. From less than 10,000 hybrid electric vehicles in 2000, now more than 1.4 million are speeding around U.S. roads.
The solar photovoltaics market grew an average of 40% each year over the past decade to $71.2 billion in 2010 from $2.5 billion in 2000. The average cost of installing a photovoltaic system back then was $9 per peak watt; it’s now $4.82. In related news, the solar industry has logged another record-breaking year with a market value of $6 billion in 2010.
The wind industry saw similar growth, jumping an average of 30% each year to $60.5 billion last year from $4.5 billion in 2000, the report concluded. Nearly a quarter of all venture capital in the U.S. goes into clean-tech ventures now, compared with less than 1% in 2000. Read more