Advanced Energy Now
Advanced Energy Now
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Advanced Energy Now: The Economic Impacts of Advanced Energy
Advanced Energy Economy Institute (AEEI), AEE's educational and charitable affiliate, commissioned Pike Research, a part of Navigant, to perform, for the first time, a quantitative and qualitative analysis of the advanced energy markets in the U.S. and globally. Their report, The Economic Impacts of Advanced Energy, identifies seven broad industry segments, which are further broken down to 41 distinct subsegments representing specific technologies, products, or services.
The report draws upon over 60 previously published Pike Research studies, as well as information maintained by Navigant’s Energy Practice, to build an assessment of advanced energy markets measured by revenue generated by the individual product categories, globally and within the United States. Key findings include:
In 2011, global revenue from the seven advanced energy segments reached nearly $1.12 trillion.
The U.S. advanced energy market reached $132.0 billion in 2011, representing nearly 12% of the global market. The domestic advanced energy market is expected to grow to an estimated $157.0 billion in 2012, with the U.S. share of the global market expected to rise to 15%.
The U.S. advanced energy industry contributed $13.9 billion in federal tax revenue in 2011, plus another $6.7 billion in state and local tax revenue, for a total tax contribution of $20.6 billion.
Globally, advanced energy is larger, by revenue, than pharmaceutical manufacturing, and roughly 2/3 the size of telecommunications.
In the U.S., advanced energy is larger than the trucking industry that distributes goods throughout the country, and more than twice the size of the commercial casino industry.
AEE & AEE Institute CEO Graham Richard, Pike Research, AEE's Vice President of Communications Bob Keough, Arno Harris, and AEE's Chief Researcher Matt Stanberry, discuss the findings of the report and the impact of the advanced energy industry. Members of the panel have an in-depth discussion around the methodology and contents of the report.
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