There’s a new Pew report out about the tremendous potential for growth in the domestic (and global) clean energy industry. The projection is that it could be a $ 2.3 trillion industry by 2020–if the policies align. Potential U.S. growth is enticing (pegged at $342 billion in new investments by 2020) but only if we get our butts in shape and start creating the right incentives. Otherwise, we’ll grow, but not nearly as fast.
No matter what we do, though, China’s growth is expected to be way higher….$620 billion new investment potential.
You might think this would be a rallying cry, but you’d be completely wrong. There’s no serious prospect of passing clean energy reform legislation in the next two years in this country. Just as we catapulted ahead in the late 1950s and early 1960s as a result of the threat posed by the Soviet launch of Sputnik, so we’re plunging behind right now.
It’s sad to watch, and we’re really going to regret it.
More on the Pew report here.