Alternative Energy Forecast

The market for biofuels, solar energy, wind power, and fuel cells is expected to quadruple in the next decade, a report Monday said, as the price of these alternative energies decline and the world becomes more concerned about the environmental impact of fossil fuels.

Collectively, global revenue from these fuels is seen growing to $167 billion by 2015 from $40 billion in 2005, according to the Clean Energy Trends report from Clean Edge, a Portland, Oregon-based research firm.

“If you look at the growth rates for wind, solar, and now biofuels, they are now growing more than 30 percent a year,” said Ron Pernick, a principal with Clean Edge. “It’s starting to look similar to the personal computer industry in the 1980s.”

More here.