Global Energy Technology Industry Analysis
The US Energy Information Administration estimates the global energy industry will show 55% growth between the present-day market situation and that of 2035. Energy demand is rising as the world’s population of over 6.5 billion continues to climb, forecast to reach 9 billion over the next three decades, representing an increasing market for energy technology.
The EU Strategic Energy Technology Plan encompasses several initiatives to invest in energy technologies. The plan includes investments over a decade as follows: $9 billion for bioenergy; $13 billion for CO2 capture, transport, and storage; $6 billion for wind energy; $16 billion for solar energy; $2 billion for an electric grid initiative; between $7 billion and $10 billion for sustainable nuclear energy.
Leading Energy Technology Market Segments
Clean technology encompasses renewable energy, electric motors, green chemistry, green transportation, Greywater, lighting, and information technology. Clean technology involves appliances, services, and processes used in the production of electricity and fuels with minimal damage to the environment.
Increasingly aware of the negative environmental impact of certain energy sources (such as automotive or HVAC), governments are investing more heavily in clean fuel programs. The National Energy Technology Laboratory, under the US Department of Energy (DOE), focuses on researching clean technologies with its hydrogen and clean fuels program. The FutureGen Industrial Alliance is involved in developing technology for the capture and storage of carbon. The DOE invested $1 billion in 2010 in collaborative efforts with the FutureGen Industrial Alliance and Ameren Energy Resources to create and put into action the FutureGen 2.0 project.
Smart grids are electrical grids used to maximize electrical savings. Smart grids anticipate electricity consumption and react accordingly to reduce expense, maximize supply options and minimize environmental harm. State investment is driving growth in this market, aided by partnerships with other branches, such as information and communication technology, and power electronics. Market leaders include Ice Energy LLC, Xtreme Power, Altair Nanotechnologies, Premium Power Corporation, and Beacon Power.
The market for primary and secondary batteries is fuelled by rising demand for electronic device battery replacements and better quality, longer-lasting batteries.
In the wind energy investment, focusing mainly on turbines, two solar electric technologies, namely photovoltaics (PV) and concentrating solar power (CSP), have received over $170 million for research and development.
