The U.S government’s
stimulus funds are providing some fuel to the
clean energy sector, which has been buffeted by a global recession and sharp declines in solar prices,
Investor’s Business Daily reported.
The three major clean energy fields—solar photovoltaic power, wind power and biofuels—had an 11% increase in total revenue last year, to $139 billion, according to a new report released by research firm Clean Edge. The report projects that revenue will rise to $326 billion in 2019, reported IBD.
The revenue rise was spurred by many regional and federal governments investments in clean energy as part of stimulus and economic recovery programs. According to the report, about $100 billion of the $787 billion U.S. economic stimulus package targeted clean energy technology.
The report also estimates that South Korea will commit $84 billion to clean-tech by 2013, and says China could end up spending $440 billion to $660 billion toward its clean energy programs, reported IBD.
The highest potential clean energy stocks are covered each week in
Cabot Green Investor.