At $1.4 Trillion, the Advanced Energy Industry is Twice as Big as Global Airline Industry

According to business group, Advanced Energy Economy, the total revenue for global advanced energy hit a record $1.4 trillion in revenue for 2015.

In 2015, advanced energy revenue grew 8 percent worldwide over 2014, more than three times the rate of the global economy overall. U.S. advanced energy revenue grew 1 percent over 2014.

Growth in the U.S. advanced energy market was impacted by persistent low oil prices in 2015. Ethanol pricing is highly correlated with oil prices. So, while production increased slightly, from 14.3 to 14.7 billion gallons as the federal Renewable Fuel Standard was fulfilled, ethanol revenue dropped 33 percent, from $40.9 billion to $27.3 billion. Without counting ethanol, the U.S. advanced energy market grew at a 10 percent rate in 2015, or four times the growth of U.S. GDP.

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Date Posted: 4/25/2016