Renewable Energy Market Size

ID: MRFR/EnP/0986-CR

200 Pages

Chitranshi Jaiswal

July 2025

Renewable Energy Market Size, Share & Growth Analysis Report By Energy Source (Solar, Wind, Hydropower, Geothermal, Biomass), By Technology (Photovoltaic, Concentrated Solar Power, Onshore Wind Turbines, Offshore Wind Turbines, Hydroelectric Power Plants), By Application (Electricity Generation, Heating, Transportation, Cooling, Industrial Processes), By End Use (Residential, Commercial, Industrial, Utilities) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Trends & Industry Forecast t... read more

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Renewable Energy Size

Renewable Energy Market Growth Projections and Opportunities

The global demand for energy is on the rise, and the diminishing reserves of non-renewable energy sources are steering the trajectory of the global renewable energy market. This market is propelled by harnessing natural elements like sunlight, geothermal power, wind, and biomass, which continuously replenish themselves. Projections indicate a substantial growth with a Compound Annual Growth Rate (CAGR) of 8.54% during the forecast period from 2018 to 2023.

In 2017, Asia-Pacific took the lead in the global renewable energy market, capturing a substantial share of 34.12%, closely trailed by North America at 23.99% and Europe at 22.04%. The segmentation of the global renewable energy market is based on type, end-use, and region.

Diving into types, the market is categorized into hydropower, wind energy, solar energy, bioenergy, geothermal energy, and ocean energy. Among these, the hydropower segment is anticipated to experience the fastest growth. This surge can be attributed to the escalating hydropower generation in countries like China and India. In 2018, hydropower secured a significant 26.25% share of the overall global renewable energy market.

On the front of end-use, the global renewable energy market is segmented into industrial, residential, and commercial categories. In 2017, the industrial sector dominated with a substantial market share of 40.77%, closely followed by the residential segment, accounting for 35.18% of the market.

The promising growth of the global renewable energy market is further underlined by the continuous depletion of traditional energy sources and the escalating global energy demand. As we traverse through the forecast period, the renewable energy sector is poised to witness considerable advancements, with hydropower emerging as a frontrunner in the race.

In essence, the dynamics of renewable energy are being shaped by a global shift towards sustainable practices. The increasing recognition of the environmental impact of traditional energy sources and the urgent need for cleaner alternatives are steering the world towards embracing renewable energy solutions. With the market set to grow at a robust CAGR, the global renewable energy landscape is on the verge of transformative developments that will play a pivotal role in shaping the future of energy generation and consumption.

As the world grapples with the challenges of depleting natural resources and the environmental consequences of conventional energy, the surge in the global renewable energy market presents an optimistic outlook. The strides made in hydropower, wind energy, solar energy, bioenergy, geothermal energy, and ocean energy underscore a collective effort towards a sustainable and eco-friendly energy future.

In conclusion, the global renewable energy market is not just a market; it is a beacon of hope for a greener and more sustainable world. The increasing reliance on renewable sources signifies a fundamental shift in our approach to energy, one that is aligned with the urgent need for environmental conservation and responsible energy consumption. The future promises further growth, innovation, and a cleaner energy landscape that benefits both the planet and its inhabitants.

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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FAQs

What is the current valuation of the US renewables energy market?

As of 2024, the US renewables energy market was valued at 128.0 USD Billion.

What is the projected market valuation for the US renewables energy sector by 2035?

The market is projected to reach a valuation of 279.68 USD Billion by 2035.

What is the expected compound annual growth rate (CAGR) for the US renewables energy market from 2025 to 2035?

The expected CAGR for the US renewables energy market during the forecast period 2025 - 2035 is 7.36%.

Which companies are considered key players in the US renewables energy market?

Key players in the market include NextEra Energy, Duke Energy, Southern Company, Exelon Corporation, and First Solar.

What are the primary applications of renewable energy in the US market?

The primary applications include electricity generation, heating, transportation, energy storage, and industrial processes.

How does the valuation of solar power compare to wind power in the US renewables market?

In the US renewables market, solar power is valued between 40.0 and 90.0 USD Billion, while wind power ranges from 30.0 to 70.0 USD Billion.

What is the expected valuation range for energy storage in the US renewables energy market?

The valuation for energy storage is projected to range from 8.0 to 20.0 USD Billion.

What are the projected valuations for the residential and commercial segments in the US renewables market?

The residential segment is expected to range from 30.0 to 65.0 USD Billion, while the commercial segment is projected between 25.0 and 55.0 USD Billion.

What role does biomass energy play in the US renewables energy market?

Biomass energy is projected to have a valuation range of 18.0 to 39.68 USD Billion in the US renewables market.

How does the industrial segment's valuation compare to the utility segment in the US renewables market?

The industrial segment is valued between 20.0 and 45.0 USD Billion, whereas the utility segment is projected to range from 40.0 to 90.0 USD Billion.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per analysis, the (US) us renewables energy market is projected to grow from USD 138.4 Billion in 2025 to USD 279.68 Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 7.36% during the forecast period (2025 - 2035).

Key Market Trends & Highlights

The US renewables energy market is experiencing robust growth driven by technological advancements and increasing consumer demand.

Investment in renewable technologies is surging, particularly in the electricity generation segment, which remains the largest. Solar power continues to dominate the market, while wind power is recognized as the fastest-growing segment. Policy support and regulatory changes are fostering an environment conducive to renewable energy expansion. Technological advancements and federal policy incentives are key drivers propelling the market forward.

Renewable Energy Market

CAGR

7.36%

Market Size & Forecast

2024 Market Size	128.0 (USD Billion)
2035 Market Size	279.68 (USD Billion)
CAGR (2025 - 2035)	7.36%

Major Players

NextEra Energy (US), Duke Energy (US), Southern Company (US), Exelon Corporation (US), First Solar (US), Orsted (DK), Enphase Energy (US), Pattern Energy (US), Brookfield Renewable Partners (CA), Nextera Energy Resources (US)

Market Trends

The renewable energy market report suggests that the renewable energy industry is currently experiencing a transformative phase characterized by a growing emphasis on sustainability and environmental responsibility. Governments and organizations worldwide are increasingly recognizing the necessity of transitioning from fossil fuels to cleaner energy sources, governing the renewable energy industry statistics. The renewable energy industry trends suggest that this shift is driven by a combination of technological advancements, policy incentives, and a heightened public awareness regarding climate change. As a result, investments in renewable technologies such as solar, wind, and hydroelectric power are on the rise, fostering innovation and creating new opportunities within the green energy sector. Moreover, the renewable energy insights state that the Renewable Energy Market is witnessing a diversification of energy sources, with emerging technologies like energy storage and smart grids gaining traction. Renewable energy trends state that these developments not only enhance the efficiency of energy systems but also facilitate the integration of renewable sources into existing infrastructures, which bolster the renewable energy sector. The green energy industry trends claim that collaboration between public and private sectors appears to be crucial in accelerating this transition, as partnerships are formed to develop and deploy renewable solutions, upholding the clean energy industry. Overall, the energy market analysis claims that the Renewable Energy Market is poised for substantial growth, driven by a collective commitment to a sustainable future and the ongoing evolution of energy technologies.

Increased Investment in Renewable Technologies

Clean energy trends suggest that innovations in renewable technologies are reshaping the landscape of the Renewable Energy Market. Enhanced efficiency in solar panels and wind turbines, along with breakthroughs in energy storage solutions, are enabling more effective harnessing of natural resources, augmenting the energy industry outlook. These advancements not only lower costs but also improve the reliability of renewable energy systems, fueling the renewable energy industry growth.

Policy Support and Regulatory Changes

According to the energy industry overview, government policies are increasingly favoring renewable energy initiatives, thereby favoring the alternative energy industry, creating a favorable environment for investment and development. The green energy trends point toward the fact that incentives such as tax credits, subsidies, and renewable energy mandates are encouraging both businesses and consumers to adopt cleaner energy solutions, thereby driving the growth of renewable energy market.

Growing Consumer Demand for Clean Energy

There is a noticeable increase in consumer awareness regarding the benefits of renewable energy, driving the growth in renewable energy market. As individuals become more informed about environmental issues, they are more likely to support and invest in sustainable energy options, supporting the market for renewable energy. This shift in consumer behavior is influencing market dynamics and encouraging companies to prioritize renewable solutions.

Renewable Energy Market Market Drivers

Federal and State Policy Incentives

The US renewables energy market is significantly influenced by federal and state policy incentives designed to promote clean energy adoption. Programs such as the Investment Tax Credit (ITC) and the Production Tax Credit (PTC) have been instrumental in driving growth. For example, the ITC allows for a 26% tax credit for solar energy systems installed before 2023, which has spurred investment in solar projects across the country. Additionally, many states have implemented Renewable Portfolio Standards (RPS) that mandate a certain percentage of energy to come from renewable sources. These policies create a favorable environment for renewable energy development, encouraging utilities and businesses to invest in clean technologies. As these incentives evolve, they will likely continue to shape the landscape of the US renewables energy market, fostering innovation and expansion.

Corporate Sustainability Initiatives

The US renewables energy market is increasingly driven by corporate sustainability initiatives as businesses recognize the importance of reducing their carbon footprint. Major corporations are committing to 100% renewable energy targets, with companies like Google and Apple leading the charge. In 2021, over 300 companies signed the RE100 initiative, pledging to transition to renewable energy sources. This trend not only reflects a growing consumer demand for sustainable practices but also influences supply chains and energy procurement strategies. As corporations invest in renewable energy projects, they contribute to the overall growth of the US renewables energy market. This shift towards sustainability is likely to accelerate, as stakeholders increasingly prioritize environmental responsibility, potentially leading to a more robust and diversified energy landscape.

Rising Energy Prices and Market Volatility

The US renewables energy market is also shaped by rising energy prices and market volatility associated with traditional fossil fuels. As global demand for oil and gas fluctuates, prices can become unpredictable, prompting consumers and businesses to seek more stable and sustainable energy sources. In recent years, the volatility of fossil fuel markets has led to increased interest in renewable energy as a hedge against price spikes. For instance, the average price of electricity from renewable sources has become more competitive, with wind and solar energy often being cheaper than coal and natural gas. This shift not only enhances energy security but also positions the US renewables energy market as a viable alternative to traditional energy sources. As energy prices continue to rise, the appeal of renewables is likely to strengthen, driving further investment and development.

Technological Advancements in Renewable Energy

The US renewables energy market is experiencing rapid technological advancements that enhance efficiency and reduce costs. Innovations in solar photovoltaic (PV) systems, wind turbine design, and energy storage solutions are pivotal. For instance, the cost of solar energy has decreased by approximately 89% since 2009, making it increasingly competitive with fossil fuels. Furthermore, advancements in battery technology are enabling better energy storage, which is crucial for managing intermittent renewable sources. These developments not only improve the viability of renewable energy projects but also attract investment, as stakeholders recognize the potential for higher returns in a market that is evolving swiftly. As technology continues to progress, the US renewables energy market is likely to see an influx of new players and increased competition, further driving down costs and expanding access to clean energy.

Public Awareness and Education on Renewable Energy

The US renewables energy market is benefiting from increased public awareness and education regarding the importance of renewable energy. As climate change becomes a more pressing issue, educational campaigns and grassroots movements are raising awareness about the benefits of clean energy. Organizations and non-profits are actively promoting renewable energy solutions, leading to a more informed public that is supportive of policy changes and investment in renewables. Surveys indicate that a significant majority of Americans favor transitioning to renewable energy sources, which influences political agendas and corporate strategies. This heightened awareness is likely to foster a culture of sustainability, encouraging individuals and businesses to adopt renewable energy solutions. As public support grows, the US renewables energy market may experience accelerated growth and innovation, driven by a collective commitment to a cleaner, more sustainable future.

Market Segment Insights

By Application: Electricity Generation (Largest) vs. Heating (Fastest-Growing)

In the Renewable Energy Market, Electricity Generation stands out as the largest application segment, driven primarily by the increasing demand for clean and sustainable energy sources. It encompasses various technologies including solar, wind, and hydropower, ultimately contributing to the bulk of renewable energy production within the renewable industry. Meanwhile, Heating, particularly from renewable sources such as biomass and geothermal, is rapidly gaining ground, reflecting growing consumer interest in energy efficiency and sustainability.

Electricity Generation (Dominant) vs. Heating (Emerging)

Electricity Generation, according to the renewable energy report, is recognized as the dominant application within the Renewable Energy Market. It leverages various sources like solar, wind, and hydroelectric power, which are increasingly prioritized for their low environmental impact. This segment is characterized by technological advancements that enhance energy production efficiency and energy storage solutions. In contrast, Heating is emerging as a significant application, with an emphasis on innovative technologies that harness renewable resources for residential and industrial renewable energy needs, causing renewable energy expansion. Factors such as government incentives and rising energy costs propel its growth, making it a key area for development and investment, which also propel renewable energy industries growth.

By Technology: Solar Power (Largest) vs. Wind Power (Fastest-Growing)

The Renewable Energy Market is characterized by a diverse range of technologies, with photovoltaic (PV) systems holding the largest share. The research on renewable energy claims that these solar panels convert sunlight directly into electricity and have gained significant traction due to decreasing costs and favorable policies. Offshore wind turbines, while currently smaller in market share compared to PV, are rapidly emerging as a key player, showing substantial growth driven by advancements in technology and increased investment in coastal wind energy projects. The growth trends within the Renewable Energy Market reflect a transition towards more innovative and sustainable practices. The demand for renewable energy sources is fueled by the global shift toward reducing carbon emissions, energy independence, and government incentives. Offshore wind energy, in particular, is witnessing accelerated deployment, contributing to its status as the fastest-growing technology, driven by its advantages of higher wind speeds and less land use compared to onshore alternatives.

Technology: Solar Power (Dominant) vs. Wind Power (Emerging)

Photovoltaic technology remains the dominant force in the Renewable Energy Market, characterized by its ease of installation and decreasing costs, making it accessible for both residential and commercial renewable energy applications. Renewable energy research and development has led to the conclusion that this technology benefits from substantial government incentives, expanding the Renewable Energy Market’s reach and adoption. In contrast, offshore wind turbines are emerging rapidly due to their ability to generate significant energy in high-capacity installations over large areas. They are gaining traction as technological advancements improve efficiency and reduce costs. The initial high investment required for offshore projects is being mitigated by policy support and increasing demand for clean energy, positioning this segment as a critical component in the future renewable landscape.

By End Use: Residential (Largest) vs. Commercial (Fastest-Growing)

In the Renewable Energy Market, the end-use segment is primarily divided into Residential, Commercial, Industrial, and Utilities. Among these, the Residential sector holds the largest share due to the rising adoption of solar panels and home energy solutions. Consumers are increasingly investing in renewable technologies to enhance energy efficiency and reduce dependence on fossil fuels, driving the clean energy technologies market. On the other hand, the commercial renewable energy segment is rapidly expanding as businesses look to lower energy costs and improve sustainability practices through renewable sources. At the same time, the demand for renewable energy for industry should also be met comfortably. The accelerating growth of the Commercial segment can be attributed to various factors, including government incentives for green energy adoption, rising electricity prices, and increasing awareness of corporate social responsibility. The renewable energy outlook suggests that innovations in energy storage technologies and the declining costs of solar and wind energy systems are encouraging more renewable business energy enterprises to transition to renewable energy sources. This shift not only benefits the businesses in terms of cost savings but also contributes positively to the environment by reducing carbon footprints.

Residential (Dominant) vs. Commercial (Emerging)

The Residential sector is characterized by its vast market potential, driven by individual homeowners seeking sustainable energy solutions that also offer long-term savings. This segment leads in Renewable Energy Market share as consumers are increasingly inclined to invest in off-grid systems and solar installations that provide energy independence. Furthermore, urbanization and the push towards energy-efficient homes enhance the growth prospects. In contrast, the Utilities segment, while classified as emerging, is on the verge of transformation. Utilities are rapidly expanding their renewable energy portfolios, integrating technologies such as smart grids to facilitate cleaner energy distribution. This shift is driven by the urgent need to meet regulatory requirements and adapt to the changing energy landscape, making it an attractive area for investment and innovation within the renewable energy market.

Get more detailed insights about Renewable Energy Market Research Report - Global Forecast to 2035

Regional Insights

North America : Renewable Energy Market Leader

North America is a powerhouse in the renewable energy market, driven by strong government policies and technological advancements. The United States holds the largest share in the Renewable Energy Market at approximately 60%, followed by Canada at around 15%. Regulatory incentives, such as tax credits and renewable portfolio standards, are pivotal in fostering growth and investment in solar and wind energy sectors. The competitive landscape is marked by key players like NextEra Energy and First Solar, which are leading the charge in solar energy production, according to the solar energy industry outlook. Canada is also making significant strides with companies like Canadian Solar and Brookfield Renewable Partners. The region's focus on sustainability and innovation positions it as a global leader in renewable energy solutions, governing the trend of renewable energy.

Europe : Sustainable Energy Transition

Europe is at the forefront of the renewable energy transition, with ambitious targets set by the European Union to achieve carbon neutrality by 2050. Germany and Spain are the largest markets, holding approximately 25% and 20% of the market share, respectively. Regulatory frameworks, as identified by the green energy research, such as the EU Green Deal, are crucial in driving investments and fostering innovation in renewable technologies. Leading countries like Germany, Spain, and Denmark are home to major players such as Iberdrola and Siemens Gamesa. The competitive landscape is characterized by a strong emphasis on wind and solar energy, with significant investments in offshore wind farms. The region's commitment to sustainability and renewable energy technologies positions it as a global leader in the sector.

Asia-Pacific : Emerging Renewable Powerhouse

The energy market insights claim that Asia-Pacific is rapidly emerging as a significant player in the renewable energy market, driven by increasing energy demands and government initiatives. China is the largest across all renewable energy markets in the region, accounting for approximately 45% of the global share, followed by India at around 10%. The region's growth is fueled by investments in solar and wind energy, supported by favorable policies and incentives from governments. China's dominance is complemented by India's aggressive renewable targets, with key players like Enel and Orsted expanding their operations in the region. The competitive landscape is vibrant, with numerous local and international companies vying for market share. The focus on sustainable energy solutions is reshaping the energy landscape in Asia-Pacific, making it a critical region for future growth.

Middle East and Africa : Resource-Rich Energy Frontier

The energy industry report states that the Middle East and Africa region is increasingly recognizing the potential of renewable energy, driven by abundant natural resources and a need for energy diversification. The energy market forecast identifies that countries like South Africa and the UAE are leading the charge, with South Africa holding about 10% of the market share. The region's growth is supported by government initiatives aimed at reducing reliance on fossil fuels and promoting sustainable energy solutions. The competitive landscape is evolving, with key players like EDP Renewables and local firms investing heavily in solar and wind projects. The region's unique challenges, such as infrastructure and financing, are being addressed through international partnerships and investments. As the focus shifts towards renewable energy, the Middle East and Africa are poised for significant growth in the coming years.

Key Players and Competitive Insights

The US renewables energy market is currently characterized by a dynamic competitive landscape, driven by a confluence of technological advancements, regulatory support, and increasing consumer demand for sustainable energy solutions. Major players such as NextEra Energy (US), Duke Energy (US), and First Solar (US) are strategically positioning themselves to capitalize on these growth drivers. NextEra Energy (US) focuses on expanding its renewable energy portfolio through aggressive investments in solar and wind projects, while Duke Energy (US) emphasizes grid modernization and energy storage solutions to enhance reliability and efficiency. First Solar (US) is innovating in solar technology, particularly in the development of advanced photovoltaic modules, which collectively shape a competitive environment that prioritizes sustainability and technological innovation.

Key business tactics within this market include localizing manufacturing and optimizing supply chains to enhance operational efficiency. The competitive structure appears moderately fragmented, with a mix of large incumbents and emerging players vying for market share. The collective influence of these key players fosters a competitive atmosphere where innovation and strategic partnerships are paramount for success.

In December 2025, NextEra Energy (US) announced a significant partnership with a leading battery storage manufacturer to enhance its renewable energy offerings. This collaboration is expected to bolster NextEra's capabilities in energy storage, allowing for greater integration of intermittent renewable sources into the grid. Such strategic moves are indicative of a broader trend towards hybrid energy solutions that combine generation and storage, thereby improving grid resilience.

In November 2025, Duke Energy (US) unveiled a new initiative aimed at increasing its renewable energy capacity by 30% over the next five years. This ambitious plan includes investments in solar farms and wind projects across several states, reflecting Duke's commitment to transitioning towards a cleaner energy future. The strategic importance of this initiative lies in its potential to significantly reduce greenhouse gas emissions while meeting the growing demand for renewable energy.

In October 2025, First Solar (US) launched a new line of high-efficiency solar panels designed to maximize energy output while minimizing land use. This innovation not only enhances First Solar's competitive edge but also aligns with the increasing emphasis on sustainable land management practices. The introduction of such advanced technologies is likely to reshape market dynamics by setting new performance benchmarks for solar energy solutions.

As of January 2026, current competitive trends in the US renewables energy market are increasingly defined by digitalization, sustainability, and the integration of artificial intelligence (AI) into operational processes. Strategic alliances are becoming more prevalent, as companies recognize the value of collaboration in driving innovation and enhancing market positioning. Looking ahead, competitive differentiation is expected to evolve from traditional price-based competition towards a focus on technological innovation, supply chain reliability, and sustainable practices, underscoring the importance of adaptability in a rapidly changing energy landscape.

Key Companies in the Renewable Energy Market include

Industry Developments

Q2 2024: Siemens Gamesa to build new wind turbine blade factory in New York Siemens Gamesa announced plans to construct a wind turbine blade manufacturing facility in New York, marking a significant investment in U.S. renewable energy infrastructure and supporting local job creation.
Q2 2024: NextEra Energy Partners Announces $1.1 Billion Acquisition of Renewable Energy Market Assets NextEra Energy Partners acquired a portfolio of wind and solar assets valued at $1.1 billion, expanding its renewable energy footprint across several U.S. states.
Q2 2024: BP and Equinor sign $1.3bn deal to develop US offshore wind projects BP and Equinor finalized a $1.3 billion agreement to jointly develop offshore wind projects in the United States, aiming to accelerate the transition to clean energy.
Q2 2024: Enel Green Power starts operations at 300 MW solar plant in Texas Enel Green Power commenced commercial operations at its new 300 MW solar power plant in Texas, further expanding its renewable energy generation capacity in the U.S., causing green energy growth.
Q2 2024: SunPower Raises $450 Million in Convertible Debt to Fund Solar Expansion SunPower secured $450 million in convertible debt financing to support the expansion of its residential and commercial solar business in North America.
Q2 2024: Vestas wins 500 MW wind turbine order from Pattern Energy Vestas received a 500 MW wind turbine order from Pattern Energy for a new wind farm project in the United States, strengthening its position in the U.S. wind market.
Q2 2024: TotalEnergies and Adani Green Energy form $600m Indian renewables partnership TotalEnergies and Adani Green Energy entered a $600 million partnership to jointly develop renewable energy projects in India, targeting significant capacity additions, which causes green energy growth.
Q2 2024: Brookfield Renewable closes $2 billion acquisition of US solar developer Brookfield Renewable completed the $2 billion acquisition of a major U.S. solar project developer, expanding its renewable energy portfolio and project pipeline.
Q2 2024: First Solar to build new $1.1 billion manufacturing facility in Louisiana First Solar announced plans to invest $1.1 billion in a new solar panel manufacturing facility in Louisiana, expected to create hundreds of jobs and boost U.S. solar manufacturing capacity.
Q2 2024: Orsted secures $1.5 billion in green bond offering for offshore wind projects Orsted raised $1.5 billion through a green bond issuance to finance the development of new offshore wind projects in Europe and North America.
Q2 2024: Tesla launches new Megapack battery factory in Shanghai Tesla officially opened its new Megapack battery manufacturing facility in Shanghai, aiming to meet growing demand for grid-scale energy storage solutions in Asia.
Q2 2024: Iberdrola appoints new CEO to lead global renewables expansion Iberdrola named a new chief executive officer to drive its global renewable energy expansion strategy, focusing on wind, solar, and green hydrogen projects.

Future Outlook

Renewable Energy Market Future Outlook

The renewable energy market size is projected to grow at an 8.13% CAGR from 2024 to 2035, driven by technological advancements, regulatory support, and increasing demand for sustainable energy solutions.

New opportunities lie in:

Expansion of energy storage solutions for grid stability Development of community solar projects for local engagement Investment in renewable energy microgrids for resilience

By 2035, the US renewables energy market is poised for robust growth and increased competitiveness.

Market Segmentation

Renewable Energy Market End Use Outlook

Residential
Commercial
Industrial
Utility
Agricultural

Renewable Energy Market Technology Outlook

Solar Power
Wind Power
Hydropower
Geothermal Energy
Biomass Energy

Renewable Energy Market Application Outlook

Electricity Generation
Heating
Transportation
Energy Storage
Industrial Processes

Report Scope

MARKET SIZE 2024	128.0(USD Billion)
MARKET SIZE 2025	138.4(USD Billion)
MARKET SIZE 2035	279.68(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	7.36% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	NextEra Energy (US), Duke Energy (US), Southern Company (US), Exelon Corporation (US), First Solar (US), Orsted (DK), Enphase Energy (US), Pattern Energy (US), Brookfield Renewable Partners (CA), Nextera Energy Resources (US)
Segments Covered	Application, Technology, End Use
Key Market Opportunities	Expansion of solar energy storage solutions to enhance grid reliability in the us renewables energy market.
Key Market Dynamics	Growing regulatory support and technological advancements drive competition in the US renewable energy market.
Countries Covered	US