This past Sunday, April 22nd marked Earth Day 2012. Earth Day is a global, annual celebration of our earth that raises awareness of new initiatives and technologies that can help diminish our dependence on oil, increase our environmental consciousness, and help reduce waste all over the world.
In the spirit of Earth Day, IBISWorld US released their April 2012 report of the fastest growing industries in the US. One of the top contenders? Solar power! The IBISWorld report explains that solar power has all of the components current industry leaders hold:
- Green thinking. Consumers are hopping on the “green” bandwagon, and continuing to make it more then a passing phase.
- Take care of the earth. More and more, growing industries are learning how to market products to consumers that will improve their health and diminish their carbon footprint. Solar energy does both by decreasing pollution.
- Growing technology. All of the top industries have one thing in common – leveraging new technology in ways that are creative and that make it easy to improve lives. Solar panel technology is transcending from solar panel systems to phone chargers and solar powered toys.
The IBISWorld report also projected that the solar energy industry will continue to grow in the next five years. This projection is based on the growth the solar panel manufacturing industry has seen recently. IBISWorld projects that the solar panel manufacturing industry will grow from a $4 and a half million industry (2012) to an almost $7 million industry by 2017.
Other industries included in the report are general pharmaceutical manufacturing, for-profit universities, and Pilates and yoga studios. You can read the entire IBISWorld US report here.