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FIGURE ES.2 U.S. renewable energy capacity by source, 2007–12 120 100 80 60 40 20 0 2007 2008 Source: Bloomerg New Energy Finance database. Geothermal Solar Biomass & waste Small hydropower Wind Capacity (GW) 2009 2010 2011 2012 Note: Small hydropower refers to hydropower sources with generating capacities equal to or less than 50 MW. The United States and the European Union are likely the largest suppliers and consumers of renewable energy services. The United States and the European Union collectively account for roughly 60 percent of both global capacity and investment in renewable energy, and the two economies are likely the largest suppliers and consumers of renewable energy services as well. Countries that have demonstrated an interest in increasing their use of renewable energy resources yet lack the domestic capacity to design, implement and maintain renewable energy projects, present an opportunity for U.S. exporters of renewable energy services. Even in countries that have the domestic expertise to provide renewable energy services, project developers may choose to import services from an international supplier based on cost, quality, or other needs. In this case, U.S. exporters of renewable energy services may also find opportunities in more mature markets. Market Size for Renewable Energy Services The United States is consistently among the largest markets for renewable energy services. Comprehensive published data on the value of the global and U.S. markets for renewable energy services are unavailable. For this study, the U.S. International Trade Commission (the Commission or USITC) estimated market size on a sector-by-sector basis by obtaining industry estimates of the share each service contributes to total project cost and then multiplying them by installed capacity for a given market. The findings indicate that Europe, the United States, and Asia, particularly China, are consistently among the largest markets for renewable energy services. xvPDF Image | Renewable Energy and Related Services: Recent Developments
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