Clean Energy Is a Global Growth Market - And the U.S. Should Not Be Left Behind
A Major Global Market Opportunity
Regardless of what the U.S. does, the rest of the world is moving toward a clean-energy economy and seizing the market opportunity it presents.
Clean energy is a major global growth industry: it has grown 18% annually since 2004.1 This compares with U.S. GDP growth of 1.5% annually over the same period.2
In 2015, the worldwide clean-energy industry topped $1.35 trillion, almost twice the size of the global airline industry.3 And its growth is expected to continue.
China Currently Dominates This Market
China held 3.5 million of the 8.1 million clean-energy jobs worldwide in 2016, compared to only 769,000 in the U.S.4
China invested $88 billion in clean energy in 2016 – far more than any other country, and about 50% more than the U.S.
China’s clean-energy strategy is now pivoting from a domestic focus to a global one. The Chinese government recently announced plans to invest $360 billion in clean energy through 2020, far outstripping other countries.
Opportunity for the U.S. to Unleash Innovation and Seize This Market Opportunity
As the world transitions to a clean-energy economy, we should not take a back seat to foreign countries and miss the huge growth potential of this market. Now is the time to unleash American innovation and display strong leadership.
A pro-growth revenue-neutral carbon tax policy would give the U.S. the market incentives to seize this opportunity – without resorting to any heavy-handed government intervention.Download PDF