Global Consumption of Alternative Energy to Reach 7756 Terawatt-Hours by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Alternative Energy Industry. Rapidly depleting natural resources, uncertainty in the energy sector, political pressures, and environmental issues are shedding light on the rapidly evolving role of clean technologies such as solar energy, wind power, fuel-celled power automobiles, and other bio-based materials. Lower environmental impact and sustainable nature of alternative energy sources are the primary growth drivers for the market.

Alternative Energy: A Global Outlook

Follow us on LinkedIn – Clean-tech energy is a major force enabling global economic recovery. Though countries primarily depend on conventional energy sources such as natural gas and coal, government incentives and rising environmental concerns are driving increased interest in renewable and nuclear sources. In addition to being a sustainable energy source, renewable sources of energy generate power without causing much damage to the environment. Unlike fossil fuels, renewable resources are widely available. Besides, renewable resources could eventually prove more cost effective as extraction of fossil fuels becomes prohibitively expensive when their reserves near depletion. Renewable energy is expected to increase its share in the global energy sector due to financial and governmental norms such as Feed in Tariff (FIT), investment tax credits, and production tax credits, along with measures aimed at including renewable sources into the energy matrix, such as the Kyoto Protocol. Declining prices of clean-energy technologies are expected to favor industry growth.

The global alternative energy market was largely resilient to the uncertainties brought on by the economic recession. The renewable energy sector was bolstered by government incentives and programs that were aimed at creating jobs and transforming industries. Over 100 countries introduced policy targets and incentives for promoting the renewable energy industry. Europe and the US installed more green energy capacity than fossil fuel power capacity during the recession, driven primarily by government subsidies. However few leading clean energy markets in Europe, including Italy and Germany were compelled to reduce subsidies for the industry due to the economic crisis. Apart from Europe and the US, renewable energy markets in developed economies such as Japan, Canada and Australia are growing at a healthy rate and are diversifying in terms of technology. In several developing countries, governments are employing renewable energy technologies including biogas digesters, micro-hydro minigrids, solar PV household systems, solar water heaters and wind and solar powered water pumps to provide electricity, clean drinkable water and heating.

The US, one of the largest consumers of energy in various forms, is actively pursuing renewable energy technologies, with wind, solar, hydro, biomass, and geothermal being the most successful sectors. As the initial cost of setting up plants/systems is high, the road to green power faces teething problems with regard to the power generated from these sources. Active government support, and state and federal programs such as the State Renewable Portfolio Standard (RPS) programs and Federal renewable fuels standard (RFS) programs favor growth of renewable energies.

Wind and solar power constitutes the most cost-competitive solutions for the global energy crisis. Majority of the sectors, including transport fuels, cooling, heating and power generation, registered robust growth and continued to attract investments during the recession, the only exceptions being biofuels and solar power sectors. In view of the lasting effects of ozone layer depletion, global warming, and the fleeting impact of total dependence on foreign countries for oil, automobile manufacturers, policy makers, researchers and environmentalists have been committed to develop alternative fuels for transportation purposes.

The research report titled “Alternative Energy: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global industry, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Japan, France, Germany, UK, Spain, China, India, Australia, Brazil, and Mexico, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Alternative_Energy_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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