Printer Friendly

2008: clean tech stronger than ever.

March 16, 2009

Despite the slumping economy, the so-called "clean tech" sector--including solar photovoltaics, wind power and biofuels--continued to grow by leaps and bounds in 2008. According to the research and consulting firm Clean Edge, revenue sector-wide grew by 53 percent from $75.8 billion in 2007 to $115.9 billion in 2008.

While 2009 promises to be challenging for the sector, given credit constraints that have slowed or reversed plans for new manufacturing facilities and development projects, Clean Edge predicts strong growth down the road, anticipating annual revenues topping $325 billion within a decade.

"The clean-energy sector, like the broader economy, faces many challenges," said Clean Edge's Ron Pernick. "But while 2009 will be a difficult year, we believe that clean energy will play a central role in any global economic recovery."

Source: Clean Edge

COPYRIGHT 2009 Earth Action Network, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:THIS WEEK
Author:Scheer, Roddy
Publication:Our Planet
Article Type:Brief article
Geographic Code:1USA
Date:Mar 16, 2009
Previous Article:U.S. bucks up for geothermal.
Next Article:Commentary: stirring the waters: a blue note on the state of the oceans.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters