New Website Highlights the Economic Impact of Advanced Energy NOW!
Tells the Story of a $1 Trillion Global Industry Providing Benefits of Secure, Clean, Affordable Energy
WASHINGTON, Jan. 30, 2013 /PRNewswire-USNewswire/ — Advanced Energy Economy (AEE) has launched a new website, AdvancedEnergyNOW.net, to illustrate the scope of the advanced energy industry. The site draws on the findings of a report released this month by AEE showing that advanced energy was a $1.1 trillion global market in 2011, larger than pharmaceutical manufacturing worldwide.
AdvancedEnergyNOW.net documents the advanced energy Industry’s economic impact, showcases the breadth and depth of the advanced energy industry, and highlights real-life examples of advanced energy technologies and businesses in action. Through an innovative site design, AdvancedEnergyNOW.net invites visitors to explore the world of advanced energy and to learn how this industry is driving the world’s energy future, today.
“Advanced Energy NOW is a new way to tell the advanced energy story,” said Graham Richard, CEO of Advanced Energy Economy. “Advanced energy is a $1 trillion global industry, contributing nearly $150 billion to the U.S. economy. These are just some of the benefits of secure, clean, affordable energy. You can learn about all of these benefits at AdvancedEnergyNOW.net.”
AEE’s recently released report, a first-ever analysis of the advanced energy sector, shows that the advanced energy 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 U.S. 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 U.S. Gross Domestic Product in 2011, and generated more than $20 billion in federal, state, and local taxes. In addition, the U.S. share of the global advanced energy market is expected to rise from 12 percent to 15 percent from 2011 to 2012.
To AEE, advanced energy represents the best available technologies, products, and services for meeting energy needs today and tomorrow. Advanced energy is a broad industry category incorporating many discrete technologies and business types that contribute to making energy secure, clean, and affordable. The advanced energy industry consists of seven distinct market segments associated with energy demand (Transportation, Buildings and Industry) and energy supply (Fuel Production, Fuel Delivery, Electricity Generation, and Electricity Delivery and Management).
These seven segments are divided into 41 subsegments, ranging from Vehicle Design and Materials and Freight Logistics in Transportation to Advanced Metering Infrastructure and Energy Storage in Electricity Delivery and Management. Electricity Generation includes Hydropower, Gas Turbines, Solar, Wind, Geothermal, Marine, Waste, Biomass, Nuclear, and Other Distributed Generation. U.S. and global market data for each segment and subsegment, as well as real life examples of businesses from all seven segments are brought to life on AdvancedEnergyNOW.net.
At AdvancedEnergyNOW.net, each industry segment and subsegment is described in detail and its economic impact assessed – in global market size, U.S. market size, contribution to U.S. GDP, and federal, state, and local taxes generated. In addition, AdvancedEnergyNOW.net tells stories of advanced energy technologies in action, and details the benefits of numerous products and business lines in making energy more secure, clean, and affordable. For each segment and many specific subsegments, there are thumbnail sketches of innovative companies ranging from technology start-ups to major utilities delivering advanced energy products and services.
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 U.S. and around the world.
The report, titled “Economic Impacts of Advanced Energy,“ was commissioned by the Advanced Energy Economy Institute, AEE’s educational and charitable affiliate, and produced by Pike Research, a part of Navigant’s Energy Practice and a leading market analysis team. For a full copy of the report, please visit http://AdvancedEnergyNOW.net.
As the first attempt to document the advanced energy industry, this report and the AdvancedEnergyNOW.net microsite likely understates the size and extent of advanced energy economic activity in the U.S. and around the world. Specifically, the U.S. market figures do not account for revenue from export of advanced energy products, and there was no available data for some industry subsegments. Thus, the findings should be considered a conservative statement of advanced energy market size.
About Advanced Energy Economy and the AEE Institute
Advanced Energy Economy is a national organization representing the advanced energy industry. AEE’s mission is to influence public policy, foster advanced energy innovation and business growth, and provide a unified voice for a strong U.S. advanced energy industry that will drive the global transition to a smarter energy future. The AEE Institute’s mission is to raise awareness of the public benefits of advanced energy, drive the policy debate on key topics, and provide a forum where leaders can address energy challenges and opportunities facing the United States.
SOURCE Advanced Energy Economy