With a push from venture capitalists and expanding markets overseas, the broad renewable energy market should go from the current $12.9 billion to $92 billion in the next 10 years, according to an annual trends report released Tuesday by a San Francisco-based research and consulting firm that specializes in the so-called “clean energy” technology field.

In the United States, state and local governments are picking up the push for renewables, the report said. Clean Edge, Inc.’s “Clean Energy Trends 2004” report characterizes today’s market for solar, wind and fuel cells as a market that is “set to take off,” fueled by three major factors: (1) more supportive government policies, (2) more research/development and commercialization investment, and (3) continued technological advances. The overall convergence has increased the interests of venture capitalists in this sector, according to a spokesperson for Clean Edge.

“New government policies and continued investment from venture capitalists and mulitnationals are playing a critical role in what we see as a bright future for clean-energy growth,” said Ron Pernick, co-founder of Clean Edge. Renewables, however, have a way to go to catch up with other energy sources. Oil worldwide, for instance, has been characterized as a several trillion dollar business.

Among the major trends to watch this year, according to the renewable energy consulting firm, are:

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