Renewable energy and energy efficient technology are becoming a big business. Together, they now account for 450,000 direct and indirect jobs, and generate annual revenues of nearly $40 billion (in 2006). These figures are based on a new assessment from the American Solar Energy Society, which tracks the economic impact of energy industries such as solar, biomass, hydroelectric, and wind power. These sectors still account for a small portion (6%) of total US energy output, but their impact is expected to
grow.

The report lays out several scenarios for future industry growth. Without any changes in the current policy and regulatory environment, industry advocates project very limited growth in renewable energy usage and the deployment of energy efficient technologies. However, with modest policy changes such as expanded tax incentives for renewables, the industry could
account for as much as fifteen percent of US energy generation in 2030. A more aggressive scenario has the industry accounting for 30% of electricity generation by that time.

Access the 2007 American Solar Energy Society study, Renewable Energy and Energy Efficiency: Economic Drivers for the 21st Century, by Roger Bezdek here