Good news for 'clean energy' enthusiasts, it is finding increasing acceptance and its revenue is expected to triple over the next decade to $254 billion, a survey reveals.
Clean Edge, which has tracked the sector since 2000, says the revenue growth of four benchmark clean energy ndustries wind, solar, bio-fuels and fuel cells shows that they are up by 40 per cent.
All the growth, it says, has meant that investment capital has poured into the sector with clean energy stocks easily outpacing the broader markets.
The NASDAQ's 'Clean Edge' index was up 66.67 per cent last year, compared to just 3.53 per cent for the S & P 500 and 9.81 per cent for the NASDAQ Composite.
Overall clean energy index returns particularly for wind and solar companies have fared even better.
Shares of Emcore Corp climbed after Jeffries & Co analyst John Lau issued an upbeat opinion about the company's solar-power business expansion.
Demand for photovoltaic panels used to generate solar power is at record levels and analysts at Bank of America are recommending Suntech Power, one of the industry's largest manufacturers, it says.
Wind energy companies are also reaping the benefits of the clean power surge, the survey says. The companies develop utility class wind turbine power projects, such as its recently announced Blue Creek 20-megawatt facility north of Amarillo Taxas.
San Francisco-based Clean Edge Inc provides industry intelligence and insight into the clean energy sector. The company sponsors the NASDAQ 'Clean Edge' index.
