"The global market for renewable energy technology is expected to soar by 70 percent over the next three years," according to The McIlvaine Company. "The market is currently worth $27 billion and expected to reach $46 billion in 2008."
According to the UK's Environmental Finance Magazine December issue, biomass power plants lead all other renewable energy sectors by a margin of more than 2 to 1, for plants scheduled to go on line between 2006 and 2012 -- an estimated 80 new biomass power plants.
Biomass growth, led by steam turbines, gasification and co-firing of coal plants, continues to dominate the renewable energy industry. The Commission estimates that the measures in the plan will increase the use of biomass to about 150 Mtoe (million tons of oil equivalent) by 2010. It forecasts that this will reduce greenhouse gas emissions by 209 million tons CO2-equivalent per year; provide direct employment for up to 300,000 people; and reduce reliance on imported energy from 48 percent to 42 percent.
Posted on 11th January 2006
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