The top tech to cut energy costs and emissions? You may be surprised
Green Biz, March 4, 2015. Image credit: ErikaWittlieb
Based on revenues gains last year in the various advanced energy segments — including solar, wind, gas turbines, biofuels, energy storage and building efficiency technologies — the last grabbed the biggest share of revenues, at $63.6 billion globally and $52.8 billion in the U.S., according to the Advanced Energy Economy group.
Investments in building efficiency technologies took 30 percent of what the organization estimates is a $1.4 trillion global advanced energy market in its annual Market Report — a snapshot on revenues for the segments it tracks. The research is done by Navigant Research.
But while it’s been clear that Internet of Things (IoT) technologies are finding their way into many industrial and commercial products — including, for sure, building management and energy efficiency — its role in energy seemed to surprise the authors.
Solar soars
And it’s not as if other energy sectors were slackers. Solar revenues jumped 21 percent year over year to $22.6 billion — and tripled over the past five years — even as prices for solar equipment have plummeted.
Another blockbuster area was storage — or energy storage in batteries. Although a nascent and tiny market, installations doubled in 2015 and revenues grew twelvefold to $734 million, AEE said.
Revenues for wind grew an astonishing 75 percent last year but are recovering from some lackluster years when wind revenues fell sharply. Wind drew only $8.2 billion in total revenue last year. Gas turbine revenues were $10.5 billion.