AEE: Advanced energy industry revenues grew to $238B in 2018

The U.S. advanced energy industry generated $238 billion in revenues in 2018, up $25 billion or 11% over 2017, according to a new report from Advanced Energy Economy (AEE). The top three growth sectors are advanced transportation, building efficiency and advanced fuel production the report found, accelerating by $7.9 billion, $7.8 billion and $5.4 billion, respectively. Advanced electricity generation also grew 8% in 2018, reaching $59.6 billion in revenues. The sector's 11% billion growth in 2018 was almost four times the growth of the U.S. economy last year, and the industry as a whole is worth $1.2 trillion globally. Newer, cleaner resources like solar and wind are rapidly becoming more economic compared to traditional sources like coal, and that competition is driving a full industry of advanced energy technologies, according to the AEE report. "Advanced" defines "an entire marketplace that is replacing legacy infrastructure and products and services with energy that is clean, secure and affordable," AEE CEO Nat Kreamer told Utility Dive.