Greentech Lead America: The U.S renewable energy market
had total revenue of $51.1 billion in 2011, representing a compound annual
growth rate (CAGR) of 11.8 percent between 2007 and 2011, according to Research
and Markets.
The report, “Renewable Energy in the United
States” states that market consumption volumes increased with a CAGR of
10.2 percent between 2007-2011 to reach a total of 529.6 billion kWh in 2011.
The renewable energy market consists of the net consumption of
electricity generated via geothermal, solar, wind and hydroelectric means, as
well as through wood and waste combustion. Data are reported as net consumption
as opposed to gross consumption. Net consumption excludes the energy consumed
by the generating units.
The volume of the market is calculated as the volume of
electricity consumed (in billions of kilowatt hours, kWh), and the market value
has been calculated according to average annual electricity prices. Â