WHAT IS ADVANCED ENERGY?
global industry revenue
U.S. industry revenue
U.S. advanced energy jobs
As defined by Advanced Energy Economy (AEE), a national business association, advanced energy is a broad range of technologies, products, and services that constitute the best available technologies for meeting energy needs today and tomorrow. Prepared by Navigant Research,
Advanced Energy Now 2017 Market Report is the fifth annual report of market size, by
revenue, of the advanced energy industry
worldwide and in the United States. The industry is broken into seven segments:
- BUILDING EFFICIENCY
- ELECTRICITY DELIVERY & MANAGEMENT
- ADVANCED TRANSPORTATION
- ADVANCED FUEL PRODUCTION
- ADVANCED INDUSTRY
- ADVANCED FUEL DELIVERY
- ADVANCED ELECTRICITY GENERATION
U.S. Advanced Electricity Generation was up
8% in revenue, or $3.9 billion, led by solar PV, which capped off five years of growth with a 30% surge, to $24.9 billion in 2016. U.S. Wind revenue held relatively steady at $14.1 billion – a welcome change from the boom-and-bust pattern from earlier in the decade. Sales of fuel cells for onsite power jumped 21% to $373 million.
Overall U.S. Building Efficiency products and services grew 8%, or $5 billion, led by energy efficient lighting and commercial building retrofits, both up 7% reaching $26.4 billion and $8.4 billion, respectively.
In U.S. Transportation, Plug-in Electric Vehicle (PEV) revenue has grown tenfold over five years, from $700 million in 2011 to $7.8 billion in 2016, and 48% over 2015, as all-electric alternatives to gasoline-powered vehicles caught on in the marketplace. Under pressure from low gasoline prices, however, hybrid electric vehicles saw revenue fall for the third straight year, dropping 11% to $8.9 billion. If this trend continues, revenue from PEVs may surge past hybrid vehicles in 2017. Energy storage also had another big year, with revenue jumping 54% to $427 million in the U.S.
Under price pressure from low prices of both oil and corn stock, revenue from ethanol fuel fell by nearly $7 billion, or 24%, to $20.6 billion despite steady production levels. For the second year in a row, declines in ethanol revenue counter-balanced nearly all the growth in other advanced energy market segments. Revenue from ethanol has dropped by half from its 2012 peak of $40 billion.