Global Advanced Energy Industry Hit $1.3 Trillion in 2014
Advanced energy was a US$200-billion industry in the United States in 2014 and accounted for $1.3 trillion in economic activity worldwide, putting it on the par with the pharmaceutical and fashion industries and bringing it close to worldwide spending on media and entertainment, Advanced Energy Economy reported in an analysis released earlier this week.
“The energy system is not just a collection of power plants and transmission lines, automobiles and gas stations, refineries and pipelines,” the report states. “It is a dynamic and complex assortment of resources, technologies, and services.” AEE analyses 52 advanced energy technologies—from anaerobic digestion and combined heat and power, to high-voltage direct current transmission, to behavioural energy efficiency and data analytics—divided into six categories: electricity generation, electricity distribution and management, building efficiency, water efficiency, transportation, and fuel production and delivery.
Those technologies “deliver a variety of benefits to our energy system and enable a transformation that will result in reliability, affordability, consumer choice, and innovation across the board,” the report states. “This transformation is well under way in every state across the country as utilities, businesses, and customers embrace the advantages of advanced energy.”