Advanced energies, from biogas to microgrids, are becoming a significant contributor to the energy landscape, accounting for $1.12 trillion in global revenue in 2011, a report said this week.
Commercial energy technologies that stretch the boundaries of scientific invention generate more revenue globally than pharmaceutical manufacturing, the Advanced Energy Economy association found.
The largest high-tech energy segment, electricity generation, accounted for $549.3 billion of 2011 revenue, driven by hydropower, solar and wind energy. This sector also includes gas turbines, biomass, nuclear and geothermal technology.
Advanced technology in the transportation sector, including vehicles, freight logistics and infrastructure design, generated revenue of $326 billion in 2011, accounting for 29 percent of the advanced energy market.
In the United States, ethanol and heating/air conditioning systems were the largest advanced energy products in the U.S., contributing about $40 billion each. The total advanced energy market in the U.S. generated $132 billion in revenue in 2011.
Advanced Energy Economy estimated the market grew 19 percent, to $157 billion, in 2012.