Pew calls for consistent energy policy to tap $2T global market
The global clean energy marketplace is expanding rapidly, but the competitive position of American industry is at risk because of increased competition abroad and uncertain policies nationally, the Pew Charitable Trusts contends.
Revenue in the clean energy sector worldwide could total $1.9 trillion from 2012 to 2018, according to Pew research. But America is at a crossroads due to private investment, manufacturing, and deployment of renewable power that have been constrained because of the lack of a long-term, consistent energy policy. At least that is the belief of more than 100 industry leaders interviewed by Pew.
The solution? Pew suggests a long-term energy policy, including investments in energy research and development, extension of key manufacturing incentives, and establishment of a national Clean Energy Standard that sets milestones for deployment of renewable and other clean sources in the electric power sector.
"Industry is telling us in no uncertain terms that the United States needs to adopt clear, consistent, long-term energy policies that allow American businesses to thrive, make our country more energy secure, and advance environmental imperatives," said Phyllis Cuttino, Director of Pew's Clean Energy Program. "Our research shows that there is a multi-trillion-dollar opportunity in the clean energy sector."
- see the report