September 30, 2013
News Release 13-096
Inv. No. 332-534
Contact: Peg O'Laughlin, 202-205-1819
U.S. AND GLOBAL MARKETS FOR RENEWABLE ENERGY SERVICES GROWING
RAPIDLY, USITC FINDS
Global demand for renewable energy services (consulting, engineering, construction, equipment maintenance and repair, etc.) has grown rapidly in the past five years as countries have worked to meet rising energy needs, reduce carbon output, and strengthen energy security, reports the U.S. International Trade Commission in its publication Renewable Energy and Related Services: Recent Developments.
Though few trade barriers apply specifically to the provision of renewable energy services, local content requirements applied to renewable energy equipment in many countries act as significant barriers to trade in related services, the agency found.
The USITC, an independent, nonpartisan, factfinding federal agency, produced the report at the request of the U.S. Trade Representative (USTR).
In his request letter, the USTR noted that technological improvements and decreasing prices have led to rapid growth in demand for renewable energy services, particularly in the wind and solar power sectors, and that changes in government incentive programs have altered the future of the renewable energy market. The USTR asked the USITC to provide updated information "to assist us in better understanding recent developments in the renewable energy services sector."
As requested, the report provides estimates of the U.S. and global markets for, and discusses barriers to, trade and investment in services that are essential to the development, generation, and distribution of renewable energy. Highlights of the report follow.
Renewable Energy and Related Services: Recent Developments (Investigation No. 332-534, USITC Publication 4421, August 2013), will be available on the USITC's Internet site at http://www.usitc.gov/publications/332/pub4421.pdf. A CD-ROM of the report may be requested by emailing email@example.com, calling 202-205-2000, or contacting the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be faxed to 202-205-2104.
USITC general factfinding investigations, such as this one, cover matters related to tariffs and trade and are generally conducted at the request of the U.S. Trade Representative, the House Committee on Ways and Means, or the Senate Committee on Finance. The resulting reports convey the Commission's objective findings and independent analysis on the subject investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the USITC submits its findings and analyses to the requestor. General factfinding investigations reports are subsequently released to the public, unless they are classified by the requestor for national security reasons.