Advanced energy revenue hit more than $1.4 trillion worldwide in 2020, up 2.5 percent over 2019 — greater than pharmaceutical manufacturing globally and double that of coal mining, according to Advanced Energy Economy's annual market report.
Advanced transportation represented the biggest global revenue increase, up $41 billion to nearly $319 billion in 2020, and led by a surge in plug-in electric vehicles. Advanced fuel production, meanwhile, saw the sharpest decline in global revenue — down nearly 17 percent — amid a drop in vehicle travel spurred by the pandemic. The U.S. also saw growth in clean energy, including revenue from energy storage, which was up 139 percent in 2020 to $1.6 billion.
Read the full newsletter here.