Clean Energy Cluster

National Clean Energy Cluster

Wind power is the fastest expanding energy sector, growing at around 22% per year.
Solar energy grew 56% in 2004 and is projected to double every 5 years.
Distributed energy is projected to account for as much as 20% of all new domestic energy through 2010.

The Clean Energy industry cluster is a growing section of the Electric Utility industry. The Clean Energy cluster aims to provide "clean" energy by using renewable energy (e.g. solar and wind), efficient energy technology, green building, and energy utilization. While currently only 2.3% of the energy market is derived from renewable energy sources, recently there has been a variety of state initiatives to increase this percentage. One example is the State of Colorado’s Amendment 37 which has established a 10% renewable energy standard.

National Outlook

The global market for clean and/or renewable technologies is significant and growing rapidly. Countries faced with a need to reduce emissions and become energy independent are giving clean and/or renewable technologies their attention. New legislation for clean and/or renewable technologies, as well as company established targets for renewable energy utilization has increased the demand for the services and products that companies in the Clean Energy cluster can provide. In the United States the electric utility industry is over a $200 billion annually industry. Capturing a small percentage of this market would still be very profitable. Combined with other growing industries such as clean on-and-off highway vehicles, and energy reduction systems for buildings, the potential profitability of the Clean Energy cluster looks very promising.

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