New trade group predicts boom in new energy

Capital News Service
LANSING — Global, national and state-level demand for advanced energy storage and more biomass, solar and wind power will grow significantly by 2015, according to the Energy Innovation Business Council. A council study points out the “new energy” sector has a potential annual average impact of $4.9 billion in Michigan, including 20,791 jobs supported and $163.7 million in local and state tax revenues. The council is a new trade group focused on expanding Michigan’s advanced energy industry. “It is the state’s first trade association for advanced energy manufacturing and energy efficiency businesses,” said President Ed Clemente. The council’s economic impact report predicts a potential global market for some renewable energy products, including electric vehicles.