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Alternative Energy Continues Growth

Alternative Energy Continues Growth

Solar and wind energy will see tremendous growth.

In a new report, "Clean Energy Trends of 2010," research firm Clean Edge predicts the global biofuels market will double over the next decade, from $56.4 billion last year to $112.8 billion in 2020. The firm also predicts that the wind energy market will similarly double in size, growing to a worth of about $123 billion in 2020. The market research group said the combined increase totaled $188.1 billion and was driven in large part by a doubling in solar installations.

As for the money available for new technologies, Clean Edge predicts U.S.-based venture capital will rise this year to $5.1 billion from $3.5 billion in 2009. That's still short of the record $6.1 billion invested in 2008. Clean tech firms were responsible for nearly 25% of all venture capital activity in 2010.

To view the Clean Energy Trends of 2010, click HERE.

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