The global market for Renewable Electricity Generation was estimated at US$360.8 Billion in 2024 and is projected to reach US$725.2 Billion by 2030, growing at a CAGR of 12.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Renewable Electricity Generation market.
Global renewable electricity generation capacity surpassed 3,700 GW in 2023, with solar and wind accounting for over 80% of new additions. The expansion is underpinned by falling technology costs, government subsidies, and environmental policy frameworks. Hydropower remains the largest contributor to renewable electricity output globally, though its growth is slowing due to environmental constraints and limited remaining potential in developed markets. Meanwhile, utility-scale solar parks and offshore wind farms are scaling rapidly to meet the demands of grid operators and decarbonization targets.
Grid integration of variable renewables is supported by flexible generation assets, battery storage systems, and high-voltage direct current (HVDC) transmission lines. Digital technologies such as predictive maintenance algorithms, digital twin modeling, and weather forecasting tools are improving asset performance and grid reliability. Advanced control systems and energy management platforms are enabling real-time balancing of renewable supply with grid demand, minimizing curtailment and enhancing dispatchability. Investment in grid-scale storage, including pumped hydro, lithium-ion, and flow batteries, is crucial for stabilizing renewable-heavy grids.
Corporate procurement of renewable electricity is a major trend, with data centers, manufacturing plants, and logistics firms entering long-term PPAs to meet sustainability goals. The transport sector's electrification is also driving grid demand for clean power. Electric vehicle charging networks, green hydrogen production, and electrified industrial heating are new end-use sectors requiring large volumes of renewable electricity. Utilities are transforming their generation portfolios, retiring fossil plants and investing in renewable-heavy energy mixes to remain compliant with decarbonization mandates.
Economies of scale, supply chain maturity, and competitive auctions have made solar and wind generation cost-competitive with conventional sources in many regions. Innovations in project financing, such as green bonds, climate funds, and blended finance structures, are unlocking capital for large-scale deployment. Furthermore, societal and investor pressure on corporates to reduce Scope 2 emissions is fueling voluntary renewable procurement through green tariffs and certificates.
The rapid evolution of energy storage, smart grid infrastructure, and digital platforms is enabling higher renewable penetration while maintaining grid reliability. International cooperation through interconnectors, regional power pools, and transnational HVDC projects is enhancing resource sharing and balancing variability. Overall, renewable electricity generation is no longer an alternative - it is becoming the foundation of resilient, future-ready power systems worldwide.
Segments: Type (Solar Energy, Wind Energy, Hydropower, Biomass Energy, Other Types); End-Use (Residential End-Use, Industrial End-Use, Commercial End-Use)
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Global Renewable Electricity Generation Market - Key Trends & Drivers Summarized
How Is Renewable Electricity Generation Shaping Global Energy Transitions?
Renewable electricity generation, encompassing technologies like solar PV, wind power, hydropower, geothermal, and bioenergy, is central to the global transition from fossil fuels to sustainable, low-emission power systems. As electricity demand grows due to urbanization, digitalization, and electrification of transport and industry, renewable sources are increasingly displacing coal and natural gas in national energy mixes. Many countries have set ambitious renewable energy targets, with solar and wind emerging as the fastest-growing technologies.Global renewable electricity generation capacity surpassed 3,700 GW in 2023, with solar and wind accounting for over 80% of new additions. The expansion is underpinned by falling technology costs, government subsidies, and environmental policy frameworks. Hydropower remains the largest contributor to renewable electricity output globally, though its growth is slowing due to environmental constraints and limited remaining potential in developed markets. Meanwhile, utility-scale solar parks and offshore wind farms are scaling rapidly to meet the demands of grid operators and decarbonization targets.
What Are the Technological Pillars Supporting Large-Scale Renewable Deployment?
Utility-scale solar PV installations continue to lead new capacity additions due to improved cell efficiency, low levelized cost of electricity (LCOE), and modular scalability. Innovations in heterojunction cells, perovskite-silicon tandems, and bifacial panels are increasing yield per unit area. On the wind front, both onshore and offshore segments are benefitting from larger turbine sizes, higher hub heights, and advanced rotor blade materials. Offshore wind, in particular, is witnessing rapid innovation with floating platforms and deep-sea anchoring technologies.Grid integration of variable renewables is supported by flexible generation assets, battery storage systems, and high-voltage direct current (HVDC) transmission lines. Digital technologies such as predictive maintenance algorithms, digital twin modeling, and weather forecasting tools are improving asset performance and grid reliability. Advanced control systems and energy management platforms are enabling real-time balancing of renewable supply with grid demand, minimizing curtailment and enhancing dispatchability. Investment in grid-scale storage, including pumped hydro, lithium-ion, and flow batteries, is crucial for stabilizing renewable-heavy grids.
Which Countries and Sectors Are Leading Adoption and Innovation?
China, the United States, India, Germany, and Brazil are among the top markets for renewable electricity generation. China leads in solar, wind, and hydropower capacity, driven by aggressive government targets, manufacturing scale, and domestic deployment mandates. The U.S. continues to see strong growth in wind and solar, supported by production tax credits, state-level RPS, and corporate power purchase agreements (PPAs). India's solar capacity has expanded rapidly due to auction-based procurement and federal subsidy schemes, while Brazil is leveraging its vast hydro and wind resources.Corporate procurement of renewable electricity is a major trend, with data centers, manufacturing plants, and logistics firms entering long-term PPAs to meet sustainability goals. The transport sector's electrification is also driving grid demand for clean power. Electric vehicle charging networks, green hydrogen production, and electrified industrial heating are new end-use sectors requiring large volumes of renewable electricity. Utilities are transforming their generation portfolios, retiring fossil plants and investing in renewable-heavy energy mixes to remain compliant with decarbonization mandates.
What Factors Are Driving the Growth of the Renewable Electricity Generation Market?
The growth in the Renewable Electricity Generation market is driven by climate change imperatives, government policy support, declining technology costs, and rising electricity demand across sectors. The Paris Agreement and subsequent national net-zero pledges are pushing countries to decarbonize electricity systems, with renewables at the forefront. Feed-in tariffs, tax incentives, carbon pricing, and clean energy standards are shaping a favorable policy environment for both utility-scale and distributed renewables.Economies of scale, supply chain maturity, and competitive auctions have made solar and wind generation cost-competitive with conventional sources in many regions. Innovations in project financing, such as green bonds, climate funds, and blended finance structures, are unlocking capital for large-scale deployment. Furthermore, societal and investor pressure on corporates to reduce Scope 2 emissions is fueling voluntary renewable procurement through green tariffs and certificates.
The rapid evolution of energy storage, smart grid infrastructure, and digital platforms is enabling higher renewable penetration while maintaining grid reliability. International cooperation through interconnectors, regional power pools, and transnational HVDC projects is enhancing resource sharing and balancing variability. Overall, renewable electricity generation is no longer an alternative - it is becoming the foundation of resilient, future-ready power systems worldwide.
Scope Of Study:
The report analyzes the Renewable Electricity Generation market in terms of units by the following Segments, and Geographic Regions/Countries:Segments: Type (Solar Energy, Wind Energy, Hydropower, Biomass Energy, Other Types); End-Use (Residential End-Use, Industrial End-Use, Commercial End-Use)
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Solar Energy segment, which is expected to reach US$304.8 Billion by 2030 with a CAGR of a 11.8%. The Wind Energy segment is also set to grow at 14.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $94.8 Billion in 2024, and China, forecasted to grow at an impressive 11.6% CAGR to reach $113.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Renewable Electricity Generation Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Renewable Electricity Generation Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Renewable Electricity Generation Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Acciona S.A., Adani Green Energy Limited, Algonquin Power & Utilities Corp., Brookfield Renewable Partners, Canadian Solar Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 43 companies featured in this Renewable Electricity Generation market report include:
- Acciona S.A.
- Adani Green Energy Limited
- Algonquin Power & Utilities Corp.
- Brookfield Renewable Partners
- Canadian Solar Inc.
- China Three Gorges Corporation
- Clearway Energy, Inc.
- Constellation Energy Corp.
- Daqo New Energy Corp.
- EDP Renováveis (EDPR)
- Enel Green Power
- First Solar, Inc.
- GE Vernova
- Iberdrola S.A.
- JinkoSolar Holding Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- NextEra Energy, Inc.
- Ørsted
- Sungrow Power Supply Co., Ltd.
- Vestas Wind Systems A/S
This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:
- Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
- Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
- Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
- Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
- Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
- Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
- Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Acciona S.A.
- Adani Green Energy Limited
- Algonquin Power & Utilities Corp.
- Brookfield Renewable Partners
- Canadian Solar Inc.
- China Three Gorges Corporation
- Clearway Energy, Inc.
- Constellation Energy Corp.
- Daqo New Energy Corp.
- EDP Renováveis (EDPR)
- Enel Green Power
- First Solar, Inc.
- GE Vernova
- Iberdrola S.A.
- JinkoSolar Holding Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- NextEra Energy, Inc.
- Ørsted
- Sungrow Power Supply Co., Ltd.
- Vestas Wind Systems A/S
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 184 |
| Published | July 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value in 2024 | 360.8 Billion |
| Forecasted Market Value by 2030 | 725.2 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
