The clean technology industry has reason to gush a triumphant yell of success after reading report of record growth in 2010 and in the last decade. The numbers are striking: solar photovoltaics market grew an average of 40% each year over the past decade to $71.2 billion in 2010 from $2.5 billion in 2000, wind and solar combined have average 30-40 percent growth in the last decade, and venture capital investment in the general industry rose 46 percent to $5.1 billion last year.
Some technologies, such as LED lights are predicted to continue growth toward ubiquitous adoption, while other technologies like solar and wind may be forced to consolidate after this growth spurt due to continued competition with Chinese manufacturers.
Nuclear energy supporters are taking steps back and reconsidering enthusiasm as impacts of the quake in Japan are assessed. Concerns of seismic faults have also stalled solar energy projects in California.
Across the Atlantic, the EU continues to push for clean technology growth and position themselves as a worthy competitor against China’s strong renewable energy sector. The EU is currently calling for a double in energy efficiency by 2020, through a combination of efficiency programs and extended funding for clean energy programs.