Renewable energy is receiving a big push from the Obama Administration and from governments around the globe. Stimulus packages and government incentives for green technology have created jobs and established new industry, which in turn has sparked a brighter outlook on the world's economy. Going into 2011 and beyond, SBIEnergyhas identified six clean energies that will not only gain double-digit growth in the next five years, but will also alter the lifestyle we know today.
Electric Vehicles -- For years the marketing and advertising from government and car companies alike have boldly stated that electric cars will take over the car industry "real soon now." Now, electric vehicles, in the form of hybrids that combine both gas and electric motors, are finally beginning to do just that. The world populace is accepting hybrid electric vehicles, giving them equal weight as an option in their car purchases. Just how quickly this market will grow depends on several factors including gas prices, government incentives and vehicle price. According to market research from SBI Energy worldwide hybrid electric vehicle sales will double from just under 700,000 units sold in 2009 to 1.5 million passenger hybrid vehicles sold in 2014. Exponential HEV market growth will occur in smaller existing markets such as Europe, Australia and South Korea, and in new markets such as India and China where product sold will increase from 95,000 vehicles in 2010 to 440,000 vehicles in 2014, a phenomenal 47% compound annual growth rate.
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