Clean Edge reports the world installed more new solar photovoltaic generating capacity than wind in 2013 – 36.5 GW vs. 35.5 GW. The market research firm says record levels of new solar deployment in China, Japan and the U.S. combined with a down year in the wind industry to create this situation.
Combined global revenue for solar PV, wind power and biofuels held nearly steady at $247.6 billion, down just slightly from $248.7 billion in 2012. The global solar market enjoyed growth of 15%.
The Clean Edge report's key findings include the following:
- Solar photovoltaics – including modules, system components and installation – grew to $91.3 billion from $79.7 billion in 2012;
- Wind power – including new installation capital costs – fell to $58.5 billion from $73.8 billion in 2012; and
- Biofuels – including global production and wholesale pricing of ethanol and biodiesel – rose slightly from $95.2 billion in 2012 to $97.8 billion last year. Global biofuels production remained constant at 31.4 billion gallons, with average prices increasing slightly.
Together, Clean Edge projects that these three sectors will expand from $247.6 billion in 2013 to $397.8 billion within a decade.
Venture capital investments in U.S.-based cleantech companies totaled $4.4 billion in 2013, falling 25% from $5.8 billion in 2012, according to data provided by Cleantech Group.
The full ‘Clean Energy Trends 2014’ report can be downloaded here.