That’s what analyst firm Frost & Sullivan reckon, in a new paper. It’s actually not such a big leap, though, as the 2006 market for the US and Canada was already valued at $17.37bn, but it’s still a bid wedge of cash.
This from Renewable Energy Access:
Faced with rising oil imports and mounting concerns over the environment, the study predicts these initiatives will likely provide new direction for the future growth of the North American renewable energy markets. Furthermore, U.S. state renewable portfolio standards (RPS) and the renewable fuel standard (RFS) mandates will likely propel the market’s growth.
Keeping with these mandate’s objectives, California has set a target of 12 percent of its total electricity to be generated from wind and geothermal energy. New York State will make efforts to increase its total electricity generated from renewable energy sources from 19 percent in 2006 to 25 percent by 2013.