Description
In spite of a challenging economic environment and ongoing supply chain issues, the United States climate change industry posted 16.5% growth in revenue to $576 billion in 2022, paced by electric vehicles, energy storage and carbon markets. Renewable energy growth slowed in 2022, but joins the list of high-growth segments for the foreseeable future as momentum builds for the energy transition and climate resilience. EVs and the explosion of carbon market value in 2021 in Europe led to 17% growth in the global climate change industry in 2021 and 21% in 2022 to a total of $3.5 trillion. The USA represents 25% of the global economy but only 17% of the global climate change industry, as geopolitical issues shadow climate change and energy markets.
Climate Change Industry Overview 2023
Climate Change Business Journal® summarizes its annual quantification of the $3.5 trillion global and $576 billion U.S. climate change industries. Transportation and renewable energy segments add the most in revenues in 2022, but energy storage, adaptation & resilience and carbon markets post the highest growth rates.
Climate Change Industry Segments: Wind, Solar, Storage, Carbon, CCS, Forest Carbon Wind Energy Summary: A Reset Year in 2022 but 15% Annual Growth to Add a 2nd TW by 2030; Offshore Increasing in Share in USA and Worldwide 6-9
Solar Energy Summary: Installations Slowed in 2022, But Were Still 50% of New U.S. Capacity; 20 GW Total and 700,000 New Homes; China Still at 80% of Global Production and Trade Policy & Supply Chain Issues Restrict Growth 10-15
Solar Pushing U.S. Battery Storage Capacity to Increase Threefold by 2025; Energy Transition Will Hinge on Generation, Transmission and ISOs & RTOs 16-19
Carbon Capture and Storage Back on the Growth Path 20-21
Global Carbon Market Value Hits New Record in 2022; EU ETA Price Tops €100 a Tonne; Carbon Revenue vs. Carbon Trading; ETS vs. Voluntary Markets 22-27
Company Features ClimateTrade Marketplace Uses Blockchain to Develop Markets for Project Developers an Carbon, Plastics and Biodiversity Offsets 28
Agrivoltaics Trailblazer Lightstar Renewables Advancing Community Solar 30
Bureau Veritas Supports the Transition to Harden and Decarbonize a Bi-Directional Distributed Electricity Grid; BV Continues Selective Bolt-On M&A Strategy 33
David Victor Lays Out the Long-Term Challenges of ‘Deep Decarbonization’ 37
World Benchmarking Alliance Research Highlights Need For Transport Sector to Collaborate and Scale Sustainable Fuels; CDP Research Advocates Transparency in Emissions and Climate Risk Disclosure; Supports Mandatory Disclosure 40
Arup Practice Leaders Champion Climate and Sustainability Principles for Clients and Colleagues 44
Stanley Consultants Acquires Resilient Analytics; Broadens Climate Science and Climate Risk Analysis Practice 48
ICF Leverages BOEM Relationship and Launches Offshore Wind Practice 50
Tetra Tech’s Biodiversity and Climate Change Specialist Takes on Ambitious Deforestation Project in Cambodia with USAID 51
2022 Rainforest Report Provides Some Progress but More Problems 53
Exhibits
Global & USA Climate Change Industry Size & Growth 2005-2024
USA vs. Global Climate Change Industry in 2022 ($bil)
The Global & USA Climate Change Industry by Segment 2005-2024
U.S. EIA Scenarios for Power Capacity 2022 to 2050
GWEC Data on Global Wind Energy Installations in GW: 2018- 2027
Global Wind Energy Total Capacity & Annual New Installation in GW
China Still Dominating the Global Wind Turbine Industry
US Offshore Wind Pipeline by State
SEIA Data on Recent and Projected U.S. Solar PV Installations by Sector
NREL 2023 Solar Update Data on Capacity, State Penetration, Corporate PPAs, Global PV Shares and Battery Price Trends
EIA: U.S. Battery Storage Capacity To Increase Significantly by 2025
Maps of Utility Solar & Wind Energy Projects in Development in 2022
PV Panel Imports
Regional Variations in Power Generation Source Mix in 2022
Regional Variations in Power Capacity Additions and Retirements: Storage Capacity Additions by Region, 2017-2022
Power Plants Seeking Transmission Interconnection at the End of 2022
CCS Project Development Growth in 2022
Price Per Tonne for Carbon Allowances in the European Union Emissions Trading System (EU ETS) Since 2014
World Bank Summary of ‘Carbon Pricing Revenues’ 2016-2021 ($bil)
EU ETS Auctioning Revenues and Reported Usage: 2013-2021 (€bil)
Global Carbon Market Revenues 2002-2022
USA Natural Gas Trade Balance Shifts With the Rise of LNG Exports
Electric Vehicle Battery Market Growing 15-20% Per Year to $40 Billion
Deforestation in the Brazilian Amazon from 2002 to 2022
Global Price Change for Selected Commodities, Jan 2019 to Nov 2022
Tropical Primary Forest Loss, 2002-2021
Climate Change Industry Segments: Sub-segments quantified in CCBJ model
