According to a newly released report from the U.S. Commerce Department’s International Trade Administration (ITA), Canada, China, Brazil, Chile and Mexico will be the top five markets for U.S. renewable energy exports during the next two years.
According to a newly released report from the U.S. Commerce Department’s International Trade Administration (ITA), Canada, China, Brazil, Chile and Mexico will be the top five markets for U.S. renewable energy exports during the next two years, and the wind sector will overtake the solar sector as the largest exporter of renewable energy products.
The 2014 Renewable Energy Top Markets Report provides rankings of renewable energy export opportunities for 75 different markets through 2015. Acting Under Secretary of Commerce for International Trade Ken Hyatt issued the report as part of ITA’s Renewable Energy and Energy Efficiency Export Initiative, a multi-agency effort to significantly increase renewable energy and energy efficiency exports.
“The Renewable Energy Top Markets Report gives American exporters the timely and relevant information that helps them compete and succeed in international markets,” Hyatt said. “Today’s release of the Top Markets Report is an important part of ITA’s continued efforts to help American companies understand global opportunities and connect more sellers of critical renewable energy and energy efficiency products and services to global buyers.”
The Top Markets Report includes detailed market analysis of the renewable energy sectors of 10 different countries, as well as snapshots of six renewable energy subsectors. The report also notes that the use of local content requirements and other trade-restrictive practices in foreign markets continues to limit U.S. renewable energy exports and reduces access to cutting-edge technologies in these markets.
In addition, the report shows that markets can be viewed differently based on the size of a country’s overall import market and expected U.S. market share, and suggests different market entry or market development strategies.
The Top Markets Report is provided as a resource for U.S. exporters by the International Trade Administration. Readers are advised to independently verify any information contained in the report and to conduct their own due diligence before entering into business ventures or other commercial arrangements.
The 2014 Renewable Energy Top Markets Report is available for download at www.export.gov/reee/topmarkets