British Columbia's power technology sector -- driven by a worldwide need for alternative sources of power -- will grow to be a $1-billion industry by 2005, an increase of 66 per cent since 2002, says a report released Tuesday.
The report also said that revenues of $620 million for 2002 were larger than those for the same year in the highly-touted wireless sector, at $510 million, and the well-publicized biotechnology cluster at $179 million.
The BC Power Technology Industry Survey says the diverse industry -- that includes everything from fuel cells to LED lighting to solar power to energy management, power conditioning and turbines -- expects the workforce of 3,000 to grow from 15 to 20 per cent over the next three years.
"Our power systems are aging in North America and Europe and the load demands are getting higher," said Clay Braziller of the not- for-profit Canadian Institute for Market Intelligence, which did the survey with KPMG.
