Green Renewable Energy Market worth USD 2011.22 Billion by 2030 - Exclusive Report by Future Market Consulting Inc.

Green Renewable Energy Market size was valued at USD 1098.21 Billion in 2021 and is projected to reach USD 2011.22 Billion by 2030, growing at a CAGR of 8.84 % from 2022 to 2030.

The green renewable energy market refers to the industry that produces and distributes energy from renewable sources, such as solar, wind, hydro, geothermal, and biomass. The demand for renewable energy is increasing due to concerns about climate change and the need to reduce greenhouse gas emissions.

The market for green renewable energy includes a wide range of players, including renewable energy producers, utilities, manufacturers of renewable energy equipment, and investors. The renewable energy industry has seen significant growth in recent years, driven by government policies and incentives, as well as advancements in technology that have made renewable energy more cost-effective.

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Key Players
Invenergy
ABB
Xcel Energy Inc.
EDF
National Grid Renewables
Acciona
Enel Spa
Eolus North America, Inc.
Innergex
The Tata Power Company Limited
General Electric

Recent Developments
• July'22 - CCIONA signed an agreement with FORTIA to provide a power management solution for major industrial consumers, as well as physical delivery of more than 1TWh of renewable electricity over a 5- to 10-year period.
• Sept'21 - a black solar panel with output power of 430W was introduced by Solaria for residential applications.

Green Renewable Energy Market Segmentation
By Type
• Hydroelectric Power
• Geothermal Energy
• Wind Power
• Solar Power
• Bioenergy

By Application
• Commercial
• Residential
• Industrial
• Others

By Region
• North America (US, Canada, Mexico);
• Europe (UK, Germany, France, Italy, Spain, Rest of Europe);
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific);
• Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa);
• South America (Brazil, Argentina, Rest of South America);

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Some of the key trends in the green renewable energy market include the following:
• Increasing adoption of solar and wind power: Solar and wind power are the fastest-growing sources of renewable energy, with increasing adoption by both residential and commercial customers.
• Shift towards distributed energy: There is a trend towards decentralized power generation, with individuals and communities installing their own renewable energy systems.
• Growth of energy storage: Energy storage solutions, such as batteries, are becoming increasingly important to enable intermittent renewable sources, such as wind and solar, to provide reliable power.
• Investment in research and development: There is significant investment in research and development to improve the efficiency and reliability of renewable energy sources.
Overall, the green renewable energy market is expected to continue to grow in the coming years, driven by increasing demand for clean energy and advancements in technology.

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Green renewable energy refers to energy sources that are replenishable, sustainable, and do not harm the environment. Unlike fossil fuels such as oil and coal, which are finite resources and contribute to climate change and pollution, green renewable energy sources are abundant, clean, and can be harnessed without producing harmful emissions.

Some examples of green renewable energy sources include:
• Solar energy: which is harnessed by capturing the energy from the sun using solar panels.
• Wind energy: which is harnessed by capturing the energy from the wind using wind turbines.
• Hydro energy: which is harnessed by using the power of moving water to generate electricity.
• Geothermal energy: which is harnessed by using heat from the earth's core to generate electricity.
• Biomass energy: which is harnessed by using organic matter such as wood, crops, and waste to generate energy.
Green renewable energy is a crucial part of the transition to a more sustainable future. It offers the potential to reduce greenhouse gas emissions and combat climate change while also creating new jobs and boosting economic growth.

Green Renewable Energy Market outlook
The outlook for the green renewable energy market is positive and promising. Over the last decade, renewable energy has gained significant momentum as an alternative to fossil fuels, with a growing number of countries and companies committing to reducing their carbon footprints and transitioning to more sustainable energy sources.

One of the key drivers of the green renewable energy market is the decreasing cost of renewable energy technologies, such as solar and wind power. As these technologies become more cost-effective, they are increasingly becoming the preferred choice for energy production, particularly in developing countries where traditional energy sources may be less reliable or accessible.

In addition to cost considerations, there is growing awareness of the environmental and health impacts of traditional energy sources, such as air pollution and greenhouse gas emissions. This is leading to a greater demand for green energy solutions and an increased focus on sustainable development and energy transition.

Governments around the world are also taking steps to support the growth of renewable energy, through policies and incentives such as feed-in tariffs, tax credits, and renewable energy mandates. The Paris Agreement, which aims to limit global warming to well below 2 degrees Celsius, has also helped to spur action on renewable energy and accelerate the transition away from fossil fuels.
Overall, the green renewable energy market is expected to continue to grow in the coming years, with the International Energy Agency predicting that renewable energy will account for 90% of new electricity generation capacity globally by 2025. This growth presents significant opportunities for investment and innovation in the renewable energy sector, and the potential for a more sustainable and cleaner energy future.

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