U.S. – China: Innovation and Collaboration Will Play a Key Role in Creating a Global Framework for a Thriving Sustainable Energy Market Renewable Energy Market The global renewable energy market reached $310.5 billion in 2008. Although growth is expected to slow from 2009 to 2013, the market is projected to reach $511.3 billion in 2013. From 2009 to 2013, China’s renewable energy market is expected to grow twice as fast as the U.S. renewable energy market. In 2010, the China renewable energy market is projected to eclipse the U.S. renewable energy market. In 2013, China and the U.S. renewable energy market are projected to reach $43.0 billion and $38.9 billion, respectively.
Sustainable Energy Investment Global sustainable energy investment grew by 45.1 percent annually from 2004 to 2008, from $35.0 billion to $155.0 billion. In 2008, the majority of global sustainable energy investments were in wind and solar projects.
Global Renewable Energy Market1 and Global Sustainable Energy Invesment2 2004 and 2008 | in Billions of U.S. Dollars (Compound Annual Growth Rate from 2004 to 2008 in Parentheses)
$310.5
Renewable Energy Market (CAGR = 13.4%)
2008
$187.6 2004 $155.0
Sustainable Energy Investment (CAGR = 45.1%)
$35.0
$0
$100
$200
$300
$400
Distribution of Global Sustainable Energy Invesment by Technology, 20082 Wind
43.6%
Solar
28.2%
Biofuels
14.2%
Biomass Marine & small-hydro
From 2004 to 2008, China’s sustainable energy investment grew from $2.5 billion to $15.6 billion. During this same time period, U.S. sustainable energy investment grew from $10.3 billion to $30.1 billion.
November 2009
6.6% 2.7%
Geothermal
1.9%
Efficiency
1.5%
Other low carbon technologies
1.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
1Source:
Datamonitor (2009). The renewable energy market consists of electricity sales from Geothermal, Solar, Wind and Hydroelectric means, as well as through wood and waste combustion sources. The United Nations Environment Programme and New Energy Finance (2009). Sustainable energy investment includes deals across the financing continuum, from R&D funding and venture capital for technology and early-stage companies, through to public market financing for projects and mature companies.
2Source:
Going Green Practice: A Global Perspective on Emerging Markets
SNAPSHOT
U.S. – China: Innovation and Collaboration Will Play a Key Role in Creating a Global Framework for a Thriving Sustainable Energy Market $7.00
China and U.S. Cleantech Venture Capital Investment3 2005 - 2008 | in Billions of U.S. Dollars
China and North America Sustainable Energy Investment2 2005 - 2008 | in Billions of U.S. Dollars $5.8
$6.00
$30.1
$30.0
$4.00
$3.7
$3.00
$22.6 $20.0
$2.5
$2.00
$1.4
$1.00
$0.42
$0.17
$15.6
$0.43
$0.35
$13.2
$10.3
$10.0
$7.4 $2.5
$0.0
2005
2006
2007
China (CAGR = 36.3%)
$50.0
$40.0 $32.7
$5.00
$0.00
November 2009
2008
2005
U.S. (CAGR = 62.6%)
China (CAGR = 84.1%)
China and U.S. Renewable Energy Market Forecast1 2009 - 2013 | in Billions of U.S. Dollars
$40.0 $33.8 $34.4
$36.0 $35.5
$38.2 $36.7
$40.4
2006
$600.0 $43.0
$37.8
$38.9
$500.0 $400.0
$30.0
$346.9
2007
2008
North America (CAGR = 43.0%)
Global Renewable Energy Market Forecast1 2009 - 2013 | in Billions of U.S. Dollars CAGR = 10.5% $467.2 $425.3 $385.2
$511.3
$300.0 $20.0 $200.0 $10.0
$100.0
$0.0
$0.0 2009
2010
2011
China (CAGR = 6.4%)
2012
2013
2009
2010
2011
2012
2013
U.S. (CAGR = 3.2%)
In 2008, China and U.S. Clean-technology venture capital investment reached $430.0 million and $5.8 billion, respectively. 1Source:
Datamonitor (2009). The United Nations Environment Programme and New Energy Finance (2009). 3Source: Cleantech Group (2009). 2Source:
Going Green Practice: A Global Perspective on Emerging Markets
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