The field of Renewable Energy (RE) is one of the fastest growing sectors in the global economy due to increasing public awareness of the effect of traditional energy generation on climate change and the security of our current supply of energy resources. Currently, 27 states plus the District of Columbia have Renewable Portfolio Standards (RPS) mandated by the US Department of Energy (DOE) that require a percentage of electrical generation to be from renewable resources.

The global market for energy consumption is projected to double by 2020 to $400 billion. Oil and coal-fueled plants account for approximately 50% of the US energy supply. Natural gas and nuclear plants are roughly 37% of the market. Large hydro and traditional energy sources make up the bulk of the remaining generation capacity. Currently, renewable energy generation has roughly 4% market share, but is expected to quadruple in the next decade, growing from $55.4 billion in revenues in 2006 to more than $226.5 billion by 2016

While wind and solar energy systems are the fastest growing sectors for renewable energy, it is clear that no single resource can capture the entire renewable energy market. Small hydro and tidal systems could comprise up to 15% to 25% of the renewable energy market in the future.