Cleantech Revenues Soar 50% To $116 Billion In 08, Investment Grows 5%


Just as we put the finishing touches on a post denouncing the possiblity of a green bubble, this Clean Energy Trends report from Clean Edge report falls into our lap, digitally.

In it, Clean Edge says that “global revenues for solar photovoltaics, wind power, and biofuels expanded from $75.8 billion in 2007 to $115.9 billion in 2008.” And “global investments in energy technologies—including venture capital, project finance, public markets, and research and development—expanded by 4.7 per cent from $148.4 billion in 2007 to $155.4 billion.”

Of note is the tiny sliver of the pie on the right that was government spending in 2008. That will probably grow by quite a bit in 2009, which could help inflate a bubble after all, though we still harbor some doubts.


The full report is a 22 page pdf, which we’re plowing through now. If there’s anything outstanding we’ll report on it. In the interim, here’s the specific breakdown by sector:

  • Biofuels (global production and wholesale pricing of ethanol and biodiesel) reached $34.8 billion in 2008 and are projected to grow to $105.4 billion by 2018. In 2008 the global biofuels market consisted of more than 17 billion gallons of ethanol and 2.5 billion gallons of biodiesel production worldwide. For the first time, ethanol leader Brazil got more than 50 per cent of its total national automobile transportation fuels from bioethanol, eclipsing petroleum use for the first time in any major market.
  • Wind power (new installation capital costs) is projected to expand from $51.4 billion in 2008 to $139.1 billion in 2018. Last year’s global wind power installations reached a record 27,000 MW. In the U.S., which accounted for more than 8,000 MW, wind installations represented more than 40 per cent of total new electricity generating capacity brought online in 2008 – and moved the U.S. ahead of Germany as the world’s leading generator of wind energy.
  • Solar photovoltaics (including modules, system components, and installation) will grow from a $29.6 billion industry in 2008 to $80.6 billion by 2018. Annual installations reached more than 4 GW worldwide in 2008, four times the total set just four years earlier, when the solar PV market reached the 1 GW milestone for the first time in 2004

Download Report (PDF)

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