Advanced Energy Perspectives

This week, all eyes are on the Silver State as a much-anticipated clean energy bill moves through the legislative process on a short timeline. Taking on electric vehicles, transmission, wholesale electricity markets, energy efficiency, energy storage, integrated resource planning, economic development tariffs, net metering, and more, State Senator Chris Brooks’s SB 448 “New Energy Economy Act” is poised to inject new economic life into Nevada by harnessing the clean energy transition. With the session scheduled to end May 31, time is short to get this landmark legislation over the finish line.

This post is the third in a series of excerpts from the Advanced Energy Now 2021 Market Report, prepared for AEE by Guidehouse Insights.

Advanced Transportation was the third largest advanced energy segment worldwide in 2020, with an estimated $318.9 billion in revenue, with 15% growth from 2019 to 2020, highest of all segments. Globally, Advanced Transportation revenue has grown at an 18% CAGR since 2011. Driving much of this growth is the recent boom in plug-in electric vehicle (PEV) sales. Global PEV revenue has grown at a staggering CAGR of 59% since 2011, reaching $120 billion in 2020. Outside of a year in 2018, PEV revenues have grown by at least 25% every year, with most years registering over 60% annual growth. Since 2011, U.S. Advanced Transportation revenue has grown at a compound annual rate of 17%. As with global markets, surging PEV sales have driven overall Advanced Transportation revenue upward, reaching nearly $37.7 billion in 2020.

“Kicking the can down the road” is an expression often used to describe states’ progress – or lack thereof – on funding aging, antiquated transportation systems. However, Colorado has the opportunity to buck that trend in favor of a cleaner, 21st century transportation future. With the introduction of Senate Bill 21-260 (SB 260), Colorado now has the opportunity to invest over $730 million in transportation electrification over the next decade, sending a strong market signal to the advanced transportation industry while supporting the state’s economic recovery and climate policy goals. Enjoying broad-based support, the bill is on the move.

This post is one in a series of excerpts from the Advanced Energy Now 2021 Market Report, prepared for AEE by Guidehouse Insights.

Over the past decade, Building Efficiency has remained a consistently reliable growth segment for advanced energy globally and in the United States. Global Building Efficiency revenue reached $341.7 billion in 2020 after growing 5% in 2020 and 9% in 2019. In the United States, Building Efficiency revenue grew to $94.5 billion, up 5% in 2020, following an increase of 9% in 2019. Over the period 2011-2020, Building Efficiency revenue grew at a compound annual growth rate (CAGR) of 11% globally and 10% in the U.S., counting only products for which we have data for all years.

This legislative session, Colorado is on its way toward modernizing how electricity infrastructure is built and propelling the interstate conversation on grid regionalization. Passed by the Colorado Senate and approved by its first committee in the House, bipartisan Senate Bill 72  would put Colorado on the map for leading the West toward a regional electricity market that helps the Rocky Mountain State capitalize on its immense resources and give households and businesses from New Mexico to Washington State the affordable clean energy they want. All it will take is one last push in the Colorado House of Representatives.