In 2022, the average end-use electricity price in the United States stood at around 12.2 U.S. cents per kilowatt-hour. This figure is projected to decrease in the coming three decades, to reach some 11 U.S. cents per kilowatt-hour by 2050.

Electricity prices in Europe are expected to remain volatile through 2025, with Italy projected to have some of the highest rates among major European economies. This trend reflects the ongoing challenges in the energy sector, including the transition to renewable sources and the impact of geopolitical events on supply chains. Despite efforts to stabilize the market, prices still have not returned to pre-pandemic levels, such as in countries like Italy, where prices are forecast to reach 109.47 euros per megawatt hour in September 2025. Natural gas futures shaping electricity costs The electricity market's future trajectory is closely tied to natural gas prices, a key component in power generation. Dutch TTF gas futures, a benchmark for European natural gas prices, are projected to be 33.62 euros per megawatt hour in July 2025. The reduced output from the Groningen gas field and increased reliance on imports further complicate the pricing landscape, potentially contributing to higher electricity costs in countries like Italy. Regional disparities and global market influences While European electricity prices remain high, significant regional differences persist. For instance, natural gas prices in the United States are expected to be roughly one-third of those in Europe by March 2025, at 4.13 U.S. dollars per million British thermal units. This stark contrast highlights the impact of domestic production capabilities on global natural gas prices. Europe's greater reliance on imports, particularly in the aftermath of geopolitical tensions and the shift away from Russian gas, continues to keep prices elevated compared to more self-sufficient markets. As a result, countries like Italy may face sustained pressure on electricity prices due to their position within the broader European energy market. As of August 2025, electricity prices in Italy have decreased to 109.17 euros per megawatt hour, reflecting ongoing volatility in the market.

Retail residential electricity prices in the United States have mostly risen over the last decades. In 2023, prices registered a year-over-year growth of 6.3 percent, the highest growth registered since the beginning of the century. Residential prices are projected to continue to grow by two percent in 2024. Drivers of electricity price growth The price of electricity is partially dependent on the various energy sources used for generation, such as coal, gas, oil, renewable energy, or nuclear. In the U.S., electricity prices are highly connected to natural gas prices. As the commodity is exposed to international markets that pay a higher rate, U.S. prices are also expected to rise, as it has been witnessed during the energy crisis in 2022. Electricity demand is also expected to increase, especially in regions that will likely require more heating or cooling as climate change impacts progress, driving up electricity prices. Which states pay the most for electricity? Electricity prices can vary greatly depending on both state and region. Hawaii has the highest electricity prices in the U.S., at roughly 43 U.S. cents per kilowatt-hour as of May 2023, due to the high costs of crude oil used to fuel the state’s electricity. In comparison, Idaho has one of the lowest retail rates. Much of the state’s energy is generated from hydroelectricity, which requires virtually no fuel. In addition, construction costs can be spread out over decades.

Germany Electricity decreased 24.94 EUR/MWh or 21.55% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for Germany Electricity Price.

Natural gas fell to 3.04 USD/MMBtu on October 14, 2025, down 2.11% from the previous day. Over the past month, Natural gas's price has fallen 0.24%, but it is still 21.52% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on October of 2025.

UK Electricity decreased 19.61 GBP/MWh or 19.14% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for the United Kingdom Electricity Price.

ntroducing our retail tariff database, a comprehensive and user-friendly platform designed to provide in-depth information on retail energy tariffs in the GB market. Updated regularly and meticulously maintained, our database offers invaluable insights for a range of stakeholders, including energy retailers, economic analysts, and electric vehicle (EV) operators.

Our retail tariff database covers all types of tariffs available in the GB market and provides an extensive set of data fields, such as tariff types, rates, contract lengths, and more. The platform is designed for easy navigation and customization, allowing users to quickly access the information they need to make informed decisions.

Energy Retailers: For energy retailers, our retail tariff database is an essential tool for staying competitive in the constantly evolving energy market. By providing real-time access to the latest tariffs from competitors, our platform enables retailers to adjust their own pricing strategies and remain competitive in the market. Furthermore, the database offers valuable information on emerging trends and consumer preferences, helping retailers identify new opportunities and challenges in the sector.

Predicting Inflation: For economic analysts and professionals interested in predicting inflation, our retail tariff database serves as a rich source of data for examining the energy market's impact on consumer prices. As energy costs are a significant factor in overall inflation, our platform provides timely and granular information on energy tariffs, allowing users to better understand the relationship between energy prices and inflation. By incorporating this data into their analysis, professionals can develop more accurate predictions and provide valuable insights to policymakers and businesses.

EV Operators: For electric vehicle operators, our retail tariff database offers insights into the evolving landscape of energy pricing, which has a direct impact on the cost and attractiveness of EV charging infrastructure. By staying informed about the latest energy tariffs, EV operators can make strategic decisions regarding the location, pricing, and expansion of their charging networks. Additionally, the database can help operators identify potential synergies between energy tariffs and EV charging demand, enabling them to develop innovative business models that cater to the needs of EV users.

UK Gas rose to 81.23 GBp/thm on October 14, 2025, up 1.47% from the previous day. Over the past month, UK Gas's price has risen 3.43%, but it is still 17.99% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on October of 2025.

In 2024, the global average of the levelized cost of electricity (LCOE) produced from onshore wind plants reached 34 U.S. dollars per megawatt-hour generated. This energy source accounted for the smallest LCOE that year, while nuclear energy had the highest.

Corresponding paper: O. Schmidt, A. Hawkes, A. Gambhir & I. Staffell. The future cost of electrial energy storage based on experience rates. Nat. Energy 2, 17110 (2017).Link to the paper: http://dx.doi.org/10.1038/nenergy.2017.110This dataset compiles cumulative capacity and product price data for electrical energy storage technologies, including the respective regression parameters to construct experience curves. Please see the paper for a full discussion on experience curves for electrical energy storage technologies and associated analyses on future cost, cumulative investment requirements and economic competitiveness of storage.The dataset also presents the underlying data for Figures 1 to 5 and Supplementary Figures 2 and 3 of the paper.

TTF Gas fell to 31.22 EUR/MWh on October 14, 2025, down 0.82% from the previous day. Over the past month, TTF Gas's price has fallen 2.91%, and is down 22.14% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on October of 2025.

The average wholesale electricity price in September 2025 in the United Kingdom is forecast to amount to*******British pounds per megawatt-hour, a decrease from the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged ***** British pounds per megawatt-hour. Electricity price stabilization in Europe Electricity prices increased in 2024 compared to the previous year, when prices stabilized after the energy supply shortage. Price spikes were driven by the growing wholesale prices of natural gas and coal worldwide, which are among the main sources of power in the region.

… and in the United Kingdom? The United Kingdom was one of the countries with the highest electricity prices worldwide during the energy crisis. Since then, prices have been stabilizing, almost to pre-energy crisis levels. The use of nuclear, wind, and bioenergy for electricity generation has been increasing recently. The fuel types are an alternative to fossil fuels and are part of the country's power generation plans going into the future.

Corresponding paper: O. Schmidt, S. Melchior, A. Hawkes, I. Staffell. Projecting the future levelized cost of electricity storage technologies. Joule (2018).Link to the paper: https://cell.com/joule/fulltext/S2542-4351(18)30583-XThis dataset compiles levelized cost of storage data in energy terms (LCOS, US$/MWh) and power terms, i.e. annuitized capacity cost (ACC, US$/kW-yr), for 9 electricity storage technologies from 2015 projected to 2050. One spreadsheet provides the data for 12 applications as well as the probability for each of the 9 technologies to exhibit lowest LCOS or ACC in a distinct application. Figures 1 and 2 and Supplementary Figures 3 and 4 of the respective publication are based on this data.The remaining files contain LCOS and ACC results for various annual full equivalent cycle and discharge duration combinations, regardless of actual application requirements. Electricity price is fixed at 50 US$/MWh. Figures 3 and 4 and Supplementary Figures 5 and 6 of the respective publication are based on this data.Please see the paper for a full analysis and discussion of the results.

The global electricity generation market is experiencing robust growth, driven by increasing energy demand across residential, commercial, and industrial sectors. A projected Compound Annual Growth Rate (CAGR) of, for example, 4% (a reasonable estimate considering global energy needs and renewable energy adoption) from 2025 to 2033 suggests a significant expansion. This growth is fueled by several key factors, including rising urbanization, industrialization, and the increasing adoption of renewable energy sources to mitigate climate change. The transition to cleaner energy sources, such as solar, wind, and geothermal, is a defining trend, presenting both opportunities and challenges for market players. While fossil fuel-based generation remains significant, government regulations promoting renewable energy and decreasing carbon emissions are compelling a market shift. The diverse range of applications, from power stations and substations to various generation types, reflects the market's complexity and ongoing evolution. Key players are adapting their strategies to navigate this transition, focusing on investments in renewable energy projects, grid modernization, and energy storage solutions. Geographic variations in market growth are also notable, with regions like Asia-Pacific experiencing rapid expansion due to substantial infrastructure development and rising energy consumption. However, constraints such as grid infrastructure limitations, fluctuating energy prices, and the intermittency of renewable energy sources present ongoing challenges. Market segmentation reveals a diverse landscape. The power station and substation applications dominate, with hydroelectric, fossil fuel, and nuclear power generation currently comprising substantial shares. However, the solar, wind, geothermal, and biomass segments are exhibiting accelerated growth, fueled by technological advancements, declining costs, and supportive government policies. Companies like Enel, Engie, Iberdrola, Exelon, and Duke Energy are at the forefront of this dynamic market, actively involved in power generation, distribution, and the integration of renewable energy. Geographical analysis highlights significant regional disparities. North America and Europe remain substantial markets, while the Asia-Pacific region is poised for explosive growth due to its large and rapidly developing economies. This underscores the need for strategic investments in infrastructure and technological advancements to meet future energy demands sustainably.

The monthly crude oil price index worldwide reached 158.13 index points in August 2025. Prices changed only slightly compared to the previous month as oil prices remained low.

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Renewable Energy Market Size 2025-2029

The renewable energy market size is valued to increase USD 2266.2 billion, at a CAGR of 9.6% from 2024 to 2029. Rise in global energy demand will drive the renewable energy market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 76% growth during the forecast period.
By End-user - Residential segment was valued at USD 1934.50 billion in 2023
By Type - Hydropower segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 108.95 billion
Market Future Opportunities: USD 2266.20 billion
CAGR : 9.6%
APAC: Largest market in 2023

Market Summary

The market encompasses the production and utilization of electricity from renewable sources, such as solar, wind, hydro, and biomass. This dynamic market is driven by the rising global energy demand and the increasing popularity of clean energy technologies as a competitive alternative to traditional energy sources. According to recent reports, renewable energy sources accounted for approximately 27% of global electricity generation in 2020, with solar and wind energy leading the charge. However, the market faces challenges, including the intermittency of renewable energy sources and the high upfront costs of implementation.
Despite these hurdles, opportunities abound, particularly in the areas of energy storage solutions and grid integration. As the market continues to evolve, stakeholders can expect ongoing innovation and advancements in core technologies and applications, service types, and regulatory frameworks, with regional dynamics adding another layer of complexity.

What will be the Size of the Renewable Energy Market during the forecast period?

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How is the Renewable Energy Market Segmented and what are the key trends of market segmentation?

The renewable energy industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Industrial
  Commercial


Type

  Hydropower
  Wind
  Solar
  Others


Deployment

  On-grid
  Off-grid


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

In the rapidly evolving energy landscape, the market is experiencing significant growth as businesses and residential sectors shift towards sustainable energy sources. Renewable energy production from biomass, wind, hydroelectric power, and solar photovoltaic systems has seen a notable increase, reducing carbon emissions by approximately 15% in 2020 compared to 2015 levels. Furthermore, the market is expected to expand further, with renewable energy investment projected to reach 30% of total energy investment by 2025. Energy audit methodologies, renewable energy certificates, and smart grids integration are crucial components driving the market's growth. Offshore wind farms, wave energy converters, and tidal energy conversion are gaining traction as promising new technologies, while grid stability analysis and energy storage systems ensure a reliable power supply.

The renewable energy sector is also witnessing advancements in onshore wind turbines, geothermal energy extraction, and concentrated solar power, among others. Moreover, the integration of demand-side management, battery energy storage, microgrids development, and pumped hydro storage into the energy infrastructure is essential for optimizing power system performance and ensuring grid modernization projects' success. The market's continuous evolution is essential in addressing the increasing energy demand while minimizing greenhouse gas emissions and promoting sustainable energy sources. In conclusion, the market is experiencing substantial growth, with a projected expansion in investment and production. The integration of various technologies and policies is crucial in ensuring a reliable, efficient, and sustainable energy future.

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The Residential segment was valued at USD 1934.50 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 76% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Renewable Energy Market Demand is Rising

The objective of the plan4res project is to provide a well-structured and highly modular modelling framework to enable consistent insights into the different needs of future energy system. Three case studies will highlight the potentials of this framework by dealing with different aspects of a future energy systems. Case study 3 will focus on cost of RES integration and impact of climate change for the European electricity system in a future world with high shares of renewable energy sources. Ist overall objectives are to identify the Cost of RES integration and impact of climate change for the European electricity system in a future world with high shares of renewable energy sources will be the main focus of case study 3. The present dataset contains all the public data built for this case study. The related documentation is included in plan4res deliverable D4.5 https://doi.org/10.5281/zenodo.3785010

The cost of capital is an important input for power sector and energy system models, used widely across industry, academia and government to explore future decarbonisation scenarios. The levelised cost of electricity is sensitive to the assumed cost of capital (particular for renewables due to their high capital intensity), but empirical data on the cost of capital is typically outdated, geographically limited and difficult to access. It is also limited to markets which have seen recent deployment of corresponding electricity generation technologies, driving a data availability gap for emerging and developing economies.

Here, we present a database which includes historical, current and future estimates of the cost of capital for 10 electricity generation technologies from 2015-2024: 1) solar photovoltaic (PV), 2) onshore wind, 3) offshore wind, 4) hydroelectric power, 5) biomass, 6) natural gas combined cycle turbines (CCGTs), 7) CCGTs equipped with carbon capture and storage, 8) geothermal, 9) tidal and 10) wave power. Note that nuclear is excluded due to the unique risks faced by project developers. In addition, we provide short term forecasts of the cost of capital out to 2030, which are an important input for accurate technoeconomic assessments.

The data are global in scope but with national and technology specificity, covers the years 2015 through to 2030, and span 27,640 datapoints across 176 countries. The database addresses the limited empirical data on cost of capital available and enables enables modellers to select and justify model input data. The estimates presented here have been verified through comparison to historical data, with the estimation approach informed by stakeholder engagement and results from an expert elciitiation survey.

An interactive webtool is also provided to visualise and explore the results, including underlying contributions to the cost of capital: https://wacc-forecaster.streamlit.app/

Hydrogen energy is a clean and versatile source of power with the potential to decarbonize various sectors of the economy. This article explores the factors influencing the price of hydrogen, including production methods, storage, and transportation costs. Efforts to lower the cost of hydrogen production and advancements in renewable energy sources are expected to make hydrogen energy more affordable in the future.

A survey conducted by the UK Department for Energy Security and Net Zero (DESNZ) in 2023 found that some 91 percent of UK residents were concerned about energy price hikes. Between 2012 and 2023, the level of concern increased. For instance, in 2012, 34 percent of the respondents were not very concerned or not concerned at all about steep rises in energy price in the future.