Blog: How Big is Huge?
Posted April 7th, 2017 by Mark Silverberg on USGlassMag.com
One of the most widely used words in the U.S. lately is huge. Just how big is huge? Does something have to already be huge, or could it be a work in progress? Is huge a stand-alone phenomenon, or does it include ripple effects? By any of these definitions, the greening of buildings and advanced energy solutions qualify as huge. Their interaction promises to be even huger and impact all of our businesses.
Beer sales and pharmaceutical manufacturing are thought of as big industries in the U.S. (I am going to withhold attempts at jokes about the relationship between the two.) In my mind, any industry that is double the size of beer sales or equal to drug manufacturing would qualify as huge. But that's just how big advanced energy is according to the "Advanced Energy Now 2017 Market Report" from Navigant Research. The report defines advanced energy as "a broad range of technologies, products, and services that constitute the best available technologies for meeting energy needs today and tomorrow."
In the U.S., advanced energy totals $200 billion in revenue representing 3.3 million jobs. Globally, advanced energy represents a $1.4 trillion in revenue. In the U.S. in 2016 alone, $3.9 billion was invested in advanced energy generation while building efficiency investments reached $5 billion.