Tom Burton, Member of the firm’s Corporate & Securities Section and Founder and Chair of the firm’s Energy Technology Practice, will publish bi-weekly installments providing key takeaways from the four sections of AEE’s webinar including: Industry Growth; Advanced Energy Jobs; Growth Trends; and Policy. This is the second installment of the series. To read Part 1, click here.
AEE’s Webinar on the State of Advanced Energy was moderated by Robert Keough, Vice President of Communications at AEE. Keough began by presenting the major points from AEE’s report, which uses global and U.S. revenues tracked by Navigant Research, a part of Navigant Consulting’s Energy Practice. Some of the major points include:
- The global advanced energy market hit $1.4 trillion in 2016, almost twice the size of the global airline industry. Since 2015, the market has grown 7%, twice as fast as the world economy.
- U.S. advanced energy industry revenue reached $200 billion in 2016, which is equal to revenue from pharmaceutical manufacturing.
- While the overall U.S. growth rate was 1% from 2015-2016, this number is 5% without including ethanol.
- This means U.S. advanced energy grew three times faster than the U.S. GDP in 2016, which grew by 1.6%.