The renewable energy sector is experiencing unprecedented growth, driven by government policies, corporate sustainability goals, and consumer demand. With billions of dollars in investment and rapid technological advancements, the industry is shifting towards a greener, more sustainable future.
1. The global renewable energy market is projected to reach $2.15 trillion by 2030, growing at a CAGR of 8.4% from 2020
Renewable energy is no longer a niche industry. The market is expanding fast, and by 2030, it’s expected to cross $2.15 trillion in value. This means more companies are shifting their focus to clean energy solutions.
Investors should take advantage of this momentum, while businesses must integrate renewables into their strategies to remain competitive.
If you’re an entrepreneur, consider entering the renewable energy supply chain, whether in manufacturing, installation, or maintenance. Companies that embrace renewables early will enjoy long-term cost savings and a strong brand reputation.
2. Solar energy capacity is expected to grow by over 1,500 GW between 2020 and 2030
Solar power is the fastest-growing energy source, and with 1,500 GW of new capacity expected, it’s clear that solar adoption is only increasing. Governments are rolling out incentives, and solar panel costs are dropping, making it easier than ever to install solar systems.
Businesses and homeowners should explore solar options now before incentives phase out. Developers and investors should also consider large-scale solar farms, as demand for clean electricity continues to rise.
3. Wind power capacity is estimated to reach 2,000 GW by 2030, up from 733 GW in 2020
Wind energy is experiencing massive growth, with capacity nearly tripling over this decade. Offshore wind farms are becoming increasingly viable, and new turbine technologies are making wind energy more efficient.
Companies in the energy sector should look into wind farm investments, especially in coastal regions. Governments should streamline the approval process for wind projects to meet growing electricity demand.
4. Hydropower will continue to be the largest renewable energy source, contributing over 15% of global electricity by 2030
Despite the rise of wind and solar, hydropower remains the dominant renewable source. With its ability to provide steady, reliable electricity, it will continue to play a major role in energy grids worldwide.
Governments should invest in modernizing aging hydropower plants to improve efficiency. Businesses that rely on stable energy sources should explore partnerships with hydroelectric providers to secure long-term energy contracts.
5. The global offshore wind market is expected to grow at a CAGR of over 12%, reaching 380 GW capacity by 2030
Offshore wind is a game-changer. It provides stronger and more consistent wind speeds compared to onshore wind farms, making it a reliable renewable source.
Countries with coastlines should prioritize offshore wind projects, as they have the potential to generate massive amounts of energy. Investors should look into offshore wind startups, as this sector is primed for rapid growth.
6. Bioenergy demand is expected to increase by 25% by 2030, driven by biofuels and biomass-based electricity
Bioenergy is an often-overlooked renewable source, yet it plays a crucial role in reducing carbon emissions. It is especially useful for industries like aviation and shipping, where electric alternatives are not yet feasible.
Businesses in agriculture and forestry should explore biomass energy as an additional revenue stream. Policymakers should provide incentives for biofuel adoption to accelerate its integration into the energy mix.
7. The renewable energy share in global electricity generation will surpass 50% by 2030 (up from ~29% in 2020)
By the end of the decade, more than half of the world’s electricity will come from renewable sources. This shift will significantly reduce dependence on fossil fuels and help combat climate change.
Businesses should start adapting their operations to run on renewable electricity, as governments may soon introduce penalties for high-carbon energy use. Consumers should also consider switching to green energy providers.
8. Investments in renewable energy are projected to exceed $10 trillion between 2020 and 2030
With over $10 trillion flowing into renewables, this sector is ripe for investment. Governments, corporations, and private investors are all pouring money into clean energy projects.
If you’re looking for long-term investment opportunities, renewable energy stocks and infrastructure projects should be on your radar. Expect steady returns as demand for clean power continues to rise.
9. The solar photovoltaic (PV) market is expected to grow at a CAGR of 9%, surpassing 4,000 TWh annual generation by 2030
Solar PV technology is improving rapidly, making it one of the most cost-effective energy sources. With higher efficiency panels and better battery storage, solar adoption will only accelerate.
Homeowners should install solar panels now to lock in savings on energy bills. Businesses with large rooftops should consider solar installations to reduce operating costs and improve sustainability efforts.
10. China will continue to dominate the renewable sector, accounting for 35-40% of global capacity additions by 2030
China is leading the charge in renewable energy, investing heavily in solar, wind, and battery technology. The country is also a major manufacturer of solar panels and wind turbines, making it a key player in the global supply chain.
Companies looking to source renewable technology should consider Chinese suppliers, but also watch for potential trade restrictions. Policymakers worldwide should take lessons from China’s aggressive renewable energy policies to accelerate domestic adoption.
11. The U.S. renewable energy market is expected to grow at a CAGR of 7.5%, reaching over 800 GW capacity by 2030
The U.S. is making significant progress in renewable energy adoption, with federal and state policies driving growth.
Businesses in the U.S. should take advantage of tax credits for renewable energy projects. Investors should focus on U.S.-based renewable companies, as the country is set for strong market expansion.
12. India aims to achieve 500 GW of renewable energy capacity by 2030, with solar and wind playing a crucial role
India is emerging as a global leader in renewable energy. The country is making aggressive policy changes to transition from coal to clean energy.
Companies looking to expand in India should explore opportunities in solar and wind farm development. Entrepreneurs can also consider entering the energy storage sector, as India will require large-scale battery solutions to stabilize its growing renewable energy grid.
13. Europe is targeting at least 45% renewable energy share in total consumption by 2030 under new climate policies
The European Union is pushing for nearly half of its total energy consumption to come from renewables. With strict carbon regulations and ambitious green energy goals, businesses operating in Europe must prepare for a shift towards clean power.
Manufacturers should invest in energy-efficient processes to comply with EU sustainability rules. Investors should look into European renewable startups, as the region is heavily investing in clean energy infrastructure.
14. Energy storage capacity (batteries, pumped hydro) will increase tenfold by 2030 to support renewables
Renewables need reliable storage solutions to ensure consistent energy supply. Battery technology, pumped hydro storage, and other innovative solutions are being scaled up worldwide.
Businesses involved in battery manufacturing and grid storage solutions should expect massive growth. Entrepreneurs can explore opportunities in recycling old batteries, as demand for lithium and other materials will skyrocket.
15. Floating solar installations are projected to surpass 25 GW capacity worldwide by 2030
Floating solar farms are a breakthrough solution for areas with limited land availability. These systems are installed on water bodies, maximizing space utilization.
Governments and private developers should explore floating solar for urban and industrial areas where land constraints exist. Investors should monitor this emerging trend, as technology advancements will drive further adoption.
16. Hydrogen production from renewables is expected to reach 100 million metric tons per year by 2030
Green hydrogen is gaining traction as an alternative fuel for industries where electrification is challenging, such as steelmaking and aviation.
Businesses in heavy industries should start piloting hydrogen-based processes. Investors should look at hydrogen startups and infrastructure projects, as governments worldwide are funding large-scale hydrogen programs.
17. The global wind turbine market size is projected to reach $180 billion by 2030
With increasing demand for wind power, the turbine manufacturing industry is booming. Innovations in design, such as taller turbines and floating wind farms, are making wind energy more efficient.
Companies should explore wind energy procurement agreements to lock in stable, long-term electricity costs. Investors should keep an eye on wind technology companies that are improving turbine performance and efficiency.
18. By 2030, offshore wind is expected to generate over 1,500 TWh annually, reducing reliance on fossil fuels
Offshore wind farms are set to become a dominant power source, particularly in Europe, China, and the U.S.
Governments should prioritize offshore wind development to meet climate goals. Energy companies should invest in offshore wind farms, as they offer higher and more consistent power output compared to onshore projects.
19. The global solar panel recycling market will grow at a CAGR of 18%, reaching $2 billion by 2030
As solar adoption increases, so does the need for recycling panels at the end of their lifecycle. The solar waste market is set to become a billion-dollar industry.
Entrepreneurs should consider entering the solar panel recycling business. Companies installing solar should work with recyclers to ensure responsible disposal of old panels.
20. The number of renewable energy jobs worldwide will increase from 12 million in 2020 to 38 million by 2030
The renewable energy sector is a major job creator. Positions in solar panel installation, wind turbine maintenance, and energy efficiency are in high demand.
Job seekers should consider reskilling or upskilling in renewable energy technologies. Governments should invest in workforce training programs to meet growing employment needs in this sector.
21. The battery energy storage market will surpass $120 billion by 2030, supporting grid reliability
With more renewables on the grid, the need for battery storage is increasing. Batteries help stabilize electricity supply, making renewables a reliable alternative to fossil fuels.
Investors should consider companies specializing in battery storage technology. Businesses can install on-site battery storage to reduce energy costs and increase resilience against power outages.
22. Africa’s renewable energy capacity is expected to quadruple, reaching over 300 GW by 2030
Africa has vast renewable energy potential, particularly in solar and wind power. Many countries are prioritizing clean energy projects to address electricity shortages.
Companies should explore investment opportunities in Africa’s solar and wind energy markets. Governments must work on improving grid infrastructure to accommodate the renewable energy surge.
23. Latin America will add over 150 GW of solar and wind capacity by 2030, led by Brazil and Mexico
Latin America is becoming a renewable energy powerhouse, with Brazil and Mexico leading solar and wind development.
Investors should target Latin American markets where government incentives are making renewables highly profitable. Businesses should consider local partnerships to navigate regulatory requirements.
24. Geothermal energy is expected to grow at a CAGR of 5%, reaching 40 GW global capacity by 2030
Geothermal energy is often overlooked, but it provides consistent, round-the-clock electricity. Countries with volcanic activity or natural hot springs have strong geothermal potential.
Governments should increase funding for geothermal research and development. Businesses with high heating and cooling needs should explore geothermal solutions to reduce operational costs.
25. Over 90% of new power capacity added worldwide in 2030 will come from renewables
Renewables are now the dominant source of new energy generation, with nearly all new capacity additions coming from wind, solar, and hydro.
Energy companies must prioritize renewable projects to stay competitive. Businesses should transition to renewable energy procurement to future-proof operations.
26. Renewable-based hydrogen could become cost-competitive with fossil fuels by 2028-2030
As technology advances, green hydrogen costs are expected to drop significantly, making it a viable alternative to fossil fuels.
Industries dependent on fossil fuels should start preparing for a transition to hydrogen-based energy solutions. Governments should provide subsidies and incentives to accelerate hydrogen adoption.
27. The cost of solar PV is expected to drop by 30-40% by 2030, further accelerating adoption
Solar panel efficiency improvements and manufacturing advancements are making solar power more affordable.
Businesses should lock in solar investments now to benefit from cost reductions. Homeowners should consider installing solar before government incentives phase out.
28. Onshore wind costs could decline by 20-30% by 2030, making it one of the cheapest power sources
Wind energy is becoming increasingly competitive with fossil fuels, even without subsidies.
Companies should explore corporate power purchase agreements (PPAs) for wind energy to secure long-term savings. Investors should focus on wind energy projects as demand rises.
29. By 2030, renewables will displace 70% of coal-fired power capacity in developed nations
Coal power is rapidly declining as cleaner and cheaper energy sources take over.
Governments should continue phasing out coal subsidies. Businesses reliant on coal energy should transition to renewables to avoid regulatory risks and high future costs.
30. Governments worldwide have pledged over $1 trillion in subsidies and incentives for renewable energy by 2030
Massive funding is being directed toward clean energy projects, making renewables more attractive than ever.
Businesses should take advantage of government incentives to invest in renewable energy projects. Policymakers should streamline approval processes to accelerate renewable energy adoption.
wrapping it up
The renewable energy market is not just growing—it is transforming the global energy landscape. With investments exceeding $10 trillion, solar and wind power expanding at an unprecedented rate, and government policies pushing for net-zero emissions, the 2020-2030 decade is proving to be a turning point for clean energy.
