Renewable Energy Market Report 2026

The renewable energy market size has grown strongly in recent years. It will grow from $1.18 trillion in 2025 to $1.29 trillion in 2026 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to expansion of solar and wind installations, declining renewable energy technology costs, supportive government renewable policies, increasing electricity demand, early grid modernization initiatives.

The renewable energy market size is expected to see strong growth in the next few years. It will grow to $1.85 trillion in 2030 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to growing net-zero emission targets, rising investments in renewable infrastructure, increasing electrification across sectors, expansion of hybrid renewable systems, advancement in energy storage technologies. Major trends in the forecast period include expansion of utility-scale renewable power projects, rising deployment of distributed energy resources, growing integration of energy storage with renewables, increased focus on grid resilience and stability, acceleration of renewable energy capacity additions.

The rising power consumption is expected to drive the growth of the renewable energy market in the coming years. Power consumption refers to the total electricity used by households, industries, and infrastructure. This increase is fueled by factors such as industrial expansion, technological advancements, and population growth, all of which elevate overall energy demand. Renewable energy supports sustainability by supplying electricity with lower greenhouse gas emissions, enhancing energy security, and reducing the environmental impact of fossil fuel use. For instance, in March 2025, the International Energy Agency, a France-based intergovernmental organization, reported that global electricity consumption rose by nearly 1,100 terawatt-hours, marking a 4.3% increase compared to 2023. Therefore, the rising power consumption is propelling the growth of the renewable energy market.

Major companies operating in the renewable energy market are focusing on developing advanced solutions such as high-temperature ablative pyrolysis (HTAP) to enhance renewable natural gas (RNG) production and improve digestate management. HTAP is a thermochemical technology that converts forestry residues, agricultural waste, and other non-food biomass into clean syngas, which can then be upgraded to pipeline-quality RNG. For instance, in December 2025, Clean Energy Technologies Inc., a US-based manufacturing company, launched a biomass platform featuring HTAP technology. The platform integrates with existing anaerobic digestion (AD) and RNG facilities to address biogas output constraints and digestate handling challenges. Key features include converting digestate into syngas to support up to 1.6 MW of onsite power or 8 MMBtu/hour of RNG, producing biochar for agricultural or industrial applications, delivering incremental RNG output of approximately 13 MMBtu/hour per HTAP unit, and improving economic and environmental performance for AD operators. This solution enables operators to maximize energy recovery from hard-to-digest biomass while reducing waste management costs.

In December 2024, TotalEnergies SE, a France-based integrated energy company, acquired VSB Group for approximately $1.65 billion. Through this acquisition, TotalEnergies aimed to expand and strengthen its renewable energy portfolio and integrated power business in key European markets, particularly Germany, by enhancing its wind, solar, and storage project pipeline and expertise. VSB Group is a Germany-based renewable energy developer specializing in the development, construction, and management of onshore wind and photovoltaic parks, battery storage solutions, and related renewable energy assets across multiple European countries.

Major companies operating in the renewable energy market are Orsted AS, Iberdrola SA, Enel Spa, Brookfield Corporation, Acciona SA, NEXTERA ENERGY INC, EDF SA, Xcel Energy Inc, The Tata Power Company Limited, Innergex Renewable Energy Inc, Adani Green Energy Limited, NTPC Limited, ReNew Power Private Limited, Japan Renewable Energy Co. Ltd, AGL Energy Ltd, Origin Energy, EOLFI, ABO Wind AG, EnviTec Biogas, Edison SpA, RusHydro, Hevel LLC, Fortum Oyj, Energias de Portugal S.A, Northland Power, National Grid Renewables, Duke Energy Corporation, Algonquin Power & Utilities Corp, TransAlta Renewables, Enel Green Power.

Asia-Pacific was the largest region in the renewable energy market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the renewable energy market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the renewable energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The renewable energy market includes revenues earned by entities by nuclear energy, biomass and bioenergy, and applied energy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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