In 2024, the largest regional investments into renewable energy came from China and Europe. China alone invested over *** billion U.S. dollars, while the European Union and United Kingdom contributed roughly *** billion to sustainable energy technologies. Investment in the United States was also significant on a global scale. U.S. clean energy consumption The United States is one of the largest consumers of renewable energy worldwide. Though hydroelectric power was the most common source of renewable electricity until 2018, wind took over in that year, reaching *** terawatt hours in 2024. In recent years, wind and solar accounted for most of the new installed capacity. Investment in renewables is expected to increase around the world in the next years. Renewables in Europe Germany holds a significant position as a leading consumer and producer of renewables worldwide, notable for its onshore wind capacity. Spain, the United Kingdom, and France are also among the largest installers of total wind power capacity in the world. Biomass is another major source of renewable energy for Europe, particularly in the heating and cooling sector.

Chinese investment in clean energy is the highest worldwide. In 2019, China pumped some 83.4 billion U.S. dollars into clean energy research and development. The United States and Japan had the second and third highest clean energy investments that year, at 55.5 billion and 16.5 billion U.S. dollars, respectively. All selected countries combined had spent 219.2 billion U.S. dollars in alternative energy technologies. The leading three entries accounted for roughly 71 percent of total investments.China’s wind and solar capacity As an economic and industrial powerhouse, China is burdened with a huge daily power demand. Although the government is still heavily involved in broadening its coal-fired power plants, concerns over air pollution and its impact on the health of its most vulnerable citizens have resulted in greater awareness for renewable energy sources. In 2018, China’s cumulative wind power capacity amounted to 209.5 gigawatts. Solar PV is also common in the country, with around 306 gigawatts of cumulative solar power capacity installed as of 2021. Most attractive countries for renewable investment The United States is the most attractive market for renewable investment, according to an April 2020 score, which takes into account existing governmental policies and deployment opportunities within each country. It was the first time since 2016 that the U.S. ranked higher than China and largely the result of a production tax credit (PTC) extension and a greater focus on future offshore wind installations.

In 2024, the total new investment in renewable energy amounted to approximately ****** billion U.S. dollars worldwide. This was an ***** percent increase from the previous year. China leads the way The amount of funding provided for clean energy worldwide has steadily increased over the last decade. In 2014, clean energy investments totaled *** billion U.S. dollars and increased to a peak of ****** billion U.S. dollars in 2024. The significant increase in investment funding indicates that the industry has matured greatly. Policy support for renewable sources, an accelerating industry, and the emergence of publicly listed companies that own renewable energy assets (also known as yieldcos) have driven the steady rise in clean energy investment. The country with the highest investment in renewable energy is China, with investments amounting to *** billion U.S. dollars in 2024. Investment is highest for both solar and wind There are many sources of renewable energy available these days, such as biomass and waste-to-energy, geothermal and marine. However, investment in solar and wind energy is by far the highest. Global investment in solar PV energy has soared during the last years, rising from *** billion U.S. dollars in 2019 to almost *** billion U.S. dollars in 2022.

The Global Renewable Energy and Indicators Dataset is a comprehensive resource designed for in-depth analysis and research in the field of renewable energy. This dataset includes detailed information on renewable energy production, socio-economic factors, and environmental indicators from around the world. Key features include:

1.Renewable Energy Data: Covers various types of renewable energy sources such as solar, wind, hydro, and geothermal energy, detailing their production (in GWh), installed capacity (in MW), and investments (in USD) across different countries and years.

2.Socio-Economic Indicators: Includes data on population, GDP, energy consumption, energy exports and imports, CO2 emissions, renewable energy jobs, government policies, R&D expenditure, and renewable energy targets.

3.Environmental Factors: Provides information on average annual temperature, annual rainfall, solar irradiance, wind speed, hydro potential, geothermal potential, and biomass availability.

4.Additional Features: Contains relevant features such as energy storage capacity, grid integration capability, electricity prices, energy subsidies, international aid for renewables, public awareness scores, energy efficiency programs, urbanization rate, industrialization rate, energy market liberalization, renewable energy patents, educational level, technology transfer agreements, renewable energy education programs, local manufacturing capacity, import tariffs, export incentives, natural disasters, political stability, corruption perception index, regulatory quality, rule of law, control of corruption, economic freedom index, ease of doing business, innovation index, number of research institutions, renewable energy conferences, renewable energy publications, energy sector workforce, proportion of energy from renewables, public-private partnerships, and regional renewable energy cooperation.

This dataset is ideal for analysts, researchers, and policymakers aiming to study trends, impacts, and strategies related to renewable energy development globally.

According to Cognitive Market Research, the global renewable energy investment market size was USD 981542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 392616.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 294462.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 225754.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 49077.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 19630.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The solar energy is the fastest growing segment of the renewable energy investment industry

Market Dynamics of Renewable Energy Investment Market

Key Drivers for Renewable Energy Investment Market

Increasing global energy demand to drive market growth

Increasing global energy demand is a significant driver of growth in the Renewable Energy Investment Market. As populations expand and economies develop, the need for sustainable and reliable energy sources intensifies. Urbanization and industrialization, particularly in emerging economies, lead to higher electricity consumption, pushing energy providers to seek alternatives to fossil fuels. Renewable energy sources, such as solar, wind, and hydro, present viable solutions that not only meet rising demand but also contribute to environmental sustainability. Additionally, the push for energy security and independence encourages investments in renewable technologies, allowing countries to reduce their reliance on imported fuels. This growing appetite for clean energy solutions drives innovation, efficiency improvements, and ultimately, a more robust and diversified energy portfolio, facilitating a transition to a low-carbon economy.

International climate agreements to boost market growth

International climate agreements play a crucial role in boosting growth in the Renewable Energy Investment Market. Initiatives like the Paris Agreement set ambitious targets for reducing greenhouse gas emissions, compelling nations to transition from fossil fuels to renewable energy sources. These agreements foster global cooperation, encouraging countries to commit to specific renewable energy targets, thereby increasing investments in clean technologies. As governments implement policies aligned with these agreements, they provide incentives such as tax breaks, subsidies, and grants, further driving investment. Moreover, corporate commitments to sustainability and net-zero emissions align with international goals, amplifying market demand for renewable energy projects. This synergistic relationship between policy frameworks and market dynamics accelerates the development and deployment of renewable energy solutions, positioning the sector for significant growth in the coming years.

Restraint Factor for the Renewable Energy Investment Market

High initial investment costs to limit market growth

High initial investment costs represent a significant restraint on the growth of the Renewable Energy Investment Market. While renewable technologies, such as solar panels and wind turbines, have seen decreasing costs over time, the upfront capital required for infrastructure development remains substantial. This barrier can deter potential investors, especially in regions where financial resources are limited or where fossil fuel alternatives are more economically attractive in the short term. Additionally, the lengthy payback periods associated with renewable energy projects can further complicate investment decisions. Smaller businesses and households may lack access to financing options, limiting their ability to participate in the renewable energy transition. Consequently, these high initial costs can slow down the adoption of renewable technologies, hindering the overall market growth despite ...

Introduction

In this project I visualise the latest World Energy Investment (WEI) data from the International Energy Agency (IEA), highlighting current investment trends.

Within the shifting landscape of energy production, exportation and security. I explore the exciting possibilities, using Morocco as a case study.

What is World Energy Investment?

The World Energy Investment is a yearly report published by the International Energy Agency. It serves as the primary source for understanding global trends in energy sector investments. The report offers a comprehensive analysis of: - Investment Flows: WEI tracks the amount of money being invested across various sectors of the energy industry. This includes investments in oil, gas, coal, renewable energy sources like solar and wind, energy efficiency, and research & development. - Investor Decisions: The report examines the factors that influence investment decisions. This involves analysing how risks and opportunities are perceived by investors in different areas of the energy sector. - Geographical Landscape: WEI provides insights into how energy investments are distributed around the world. It highlights which regions are attracting the most investment and in what sectors. - Policy and Security: The report explores how government policies and global energy security concerns impact investment trends.

The 2024 Edition and Recent Trends

The latest edition (2024) focuses on providing a complete picture of energy investments in 2023 with preliminary data for 2024. Some key trends highlighted in recent reports include: - Rise of Clean Energy: There's a significant increase in investments directed towards renewable energy sources like solar and wind. This is driven by factors like climate change concerns, falling renewable energy costs, and government policies promoting clean energy transition. - Energy Security Concerns: The recent global energy crisis (2022) has emphasised the importance of energy security. This has led to increased investments in sources that ensure a reliable and independent energy supply for countries. link - Flux in Traditional Fuels: Investments in fossil fuels like oil and gas have shown a complex pattern. While high fuel prices have boosted revenue for traditional energy companies, there's also uncertainty due to the shift towards clean energy.

The 2024 WEI delves deeper with these interesting additions:

• Investment Sources: It analyses the origin of funding for energy projects, including the role of development finance institutions in emerging economies.
• Clean vs Fossil Fuels: The report provides a clear comparison of investment trends between clean energy and fossil fuels.
• Regional Analysis: There's a new section dedicated to exploring investment patterns in ten key global economies and regions.

The Importance of World Energy Investment

The WEI report is crucial for understanding the future of the global energy landscape. By analysing investment trends, the report sheds light on: - Energy Security: It helps assess how well-equipped countries are to meet their future energy demands. - Climate Change Mitigation: The report indicates the pace of progress towards a low-carbon energy future. - Economic Growth: Investment trends provide insights into potential job creation and economic development in the energy sector.

WEI report - 2024:link

GB Fuel type power generation production (live): link

Visualisation: W_E_I_World.csv

https://www.googleapis.com/download/storage/v1/b/kaggle-user-content/o/inbox%2F13231939%2Fc1ca92d8ac240beb37a9dc95483d196d%2FScreenshot%202024-07-26%2010.43.56.png?generation=1721987197755137&alt=media" alt="">

A document with the R code for the above visualisation. link

Energy Aspirations: A Global Overview and Morocco as a case study

The global energy landscape is undergoing a profound transformation, driven by factors such as climate change, energy security, and technological advancements. Key aspirations include: - Decarbonisation: Transitioning from fossil fuels to cleaner energy sources to mitigate climate change. - Energy Security: Reducing reliance on imported energy and ensuring domestic supply stability. - Affordability: Making energy accessible and affordable for all. - Innovation: Driving technological advancements to improve efficiency and develop new energy sources.

Energy Generation: A Focus on Renewables

Renewable energy sources, such as solar, wind, hydro, and geothermal, are at the forefront of energy generation aspirations...

China was by far the leading country based on energy transition investments worldwide in 2024. China's energy transition investments amounted to over *** billion U.S. dollars that year. In a distant second place that year was the United States, with energy transition-related investments amounting to over *** billion U.S. dollars. Global energy transition investments amounted to more than *** trillion U.S. dollars in 2024.

This dataset contains detailed information on the adoption of renewable energy sources globally in response to climate change policies and initiatives. It includes data on energy production, investments in renewable infrastructure, policy changes, environmental impact, installed capacity, renewable energy share, and jobs created. The data spans from 2010 to 2023 and covers various renewable energy sources such as solar, wind, hydro, geothermal, and biomass.

Variables:

Country/Region: The country or region where data is collected. Year: The year for the data entry. Energy Source: Type of renewable energy (e.g., solar, wind, hydro, geothermal, biomass). Energy Production (MWh): Amount of energy produced from each source in megawatt-hours. Investment in Renewable Infrastructure (USD): Amount of investment in renewable energy infrastructure in US dollars. Policy Changes: Description of major policy changes or initiatives related to renewable energy. Environmental Impact (CO2 Reduction): Metrics such as CO2 emissions reduction in tons. Installed Capacity (MW): Total installed capacity for each renewable energy source in megawatts. Renewable Energy Share (%): Percentage of total energy consumption that is from renewable sources. Jobs Created: Number of jobs created in the renewable energy sector.

Data Sources:

The data has been synthesized from various authoritative sources including: International Energy Agency (IEA) World Bank United Nations Environment Programme (UNEP) National Renewable Energy Laboratories (NREL) Government Reports

Use Cases: This dataset is valuable for researchers, policymakers, and data enthusiasts interested in analyzing: Trends in renewable energy adoption. Impact of policy changes on renewable energy growth. Environmental benefits of increased renewable energy usage. Economic aspects such as investment and job creation in the renewable energy sector.

File Information: File Name: renewable_energy_adoption_large.csv File Size: [Provide the file size] Number of Rows: Over 500 Number of Columns: 10

In 2021, investment in renewable energies in Latin America reached **** billion U.S. dollars. Brazil was by far the country that held the largest share of investments, particularly in the last three years. From 2019 to 2021, renewable investments in Brazil almost doubled, reaching **** billion U.S. dollars in the latter year. Meanwhile, investments in renewable energy in Mexico and Brazil stood at *** and *** billion U.S. dollars in 2021, respectively.

Renewable Energy Market Outlook

The global market size for renewable energy is projected to grow significantly from an estimated $1.1 trillion in 2023 to over $2.5 trillion by 2032, reflecting a robust compound annual growth rate (CAGR) of 9.4%. This remarkable growth is fueled by increasing governmental support, advancements in renewable technologies, and the urgent necessity to mitigate climate change by reducing greenhouse gas emissions.

One of the primary growth drivers for the renewable energy market is the escalating concerns about climate change and the subsequent regulatory policies aimed at reducing carbon footprints. Countries worldwide are increasingly implementing stringent regulations and offering incentives to adopt renewable energy sources. This includes subsidies, tax benefits, and renewable energy credits that are designed to encourage both corporations and individuals to invest in cleaner energy alternatives. For instance, the European Union has set ambitious targets to achieve climate neutrality by 2050, thus significantly bolstering the demand for renewable energy across member states.

Technological advancements play a crucial role in the expansion of the renewable energy market. Innovations in photovoltaic cells, wind turbine efficiency, and battery storage technologies have drastically reduced the cost of renewable energy production, making it more competitive with traditional fossil fuels. For example, the cost of solar photovoltaic (PV) panels has decreased by approximately 80% in the last decade. These technological breakthroughs not only make renewable energy more accessible but also enhance its efficiency and reliability, which are critical factors for widespread adoption.

Investment from the private sector is another significant growth factor for the renewable energy market. Venture capitalists, private equity firms, and even large multinational corporations are increasingly seeing the potential for high returns in renewable energy investments. The entry of significant financial resources has accelerated the construction of large-scale renewable energy projects, ranging from solar farms to offshore wind parks. This influx of capital is crucial for meeting the rising global energy demands in a sustainable manner.

The role of a Renewable Energy Connector is becoming increasingly vital as the renewable energy market expands. These connectors serve as crucial links between various renewable energy systems, ensuring seamless integration and efficient energy transfer. As renewable energy sources like solar and wind become more prevalent, the need for robust and reliable connectors that can handle varying power loads and environmental conditions is paramount. These connectors not only facilitate the transmission of energy but also enhance the overall efficiency and reliability of renewable energy systems. With advancements in technology, modern connectors are designed to withstand harsh weather conditions and provide long-lasting performance, making them indispensable components in the renewable energy infrastructure.

Regionally, Asia-Pacific is expected to dominate the renewable energy market, driven by rapid industrialization, urbanization, and strong governmental initiatives. Countries like China and India are heavily investing in renewable energy infrastructure to combat pollution and meet their growing energy needs. North America and Europe also represent substantial markets due to well-established renewable energy policies and a high level of public awareness regarding environmental conservation.

Energy Type Analysis

The renewable energy market is segmented by various energy types including solar, wind, hydro, geothermal, biomass, and others. Solar energy has emerged as a leading segment owing to its versatility and declining costs. The global push towards solar energy can be attributed to technological advancements that have drastically lowered the cost of solar panels, making them affordable for both residential and commercial use. Additionally, government incentives and policies, such as feed-in tariffs and net metering, have further propelled the adoption of solar energy systems.

Wind energy, particularly from onshore and offshore installations, is another significant segment within the renewable energy market. Improved turbine technologies have enhanced the efficiency and output of wind energy projects. Countries with vast coastal areas, such as the United Stat

Renewable Energy Market Outlook

According to our latest research, the global renewable energy market size reached USD 1,260 billion in 2024, driven by robust investments, favorable government policies, and increasing environmental awareness. The market is anticipated to grow at a CAGR of 8.7% from 2025 to 2033, projecting a value of approximately USD 2,620 billion by the end of the forecast period. This significant growth trajectory is propelled by the urgent need to decarbonize energy systems, escalating energy demand, and rapid technological advancements across all renewable energy segments.

One of the primary growth factors for the renewable energy market is the global shift towards sustainable energy sources to combat climate change and reduce greenhouse gas emissions. Governments worldwide are implementing stringent regulations and setting ambitious renewable energy targets, which are fostering large-scale investments in solar, wind, hydropower, bioenergy, and geothermal energy. The declining cost of renewable energy technologies, especially in solar photovoltaic (PV) and wind power, has further accelerated adoption across residential, commercial, industrial, and utility-scale applications. Additionally, international agreements such as the Paris Accord have catalyzed both public and private sector initiatives, ensuring consistent momentum for renewable energy deployment.

Another critical growth driver is the increasing demand for energy security and diversification of the energy mix. As countries aim to reduce their reliance on fossil fuels and volatile energy imports, renewable energy offers a resilient and sustainable alternative. The adoption of decentralized energy generation models, coupled with advancements in energy storage and smart grid technologies, has enabled greater integration of renewables into existing power infrastructure. This transition is further supported by the electrification of sectors such as transportation and heating, which creates new avenues for renewable energy utilization and market expansion.

Technological innovations and digitalization are also playing a pivotal role in enhancing the efficiency and scalability of renewable energy systems. Breakthroughs in energy storage, grid integration, and predictive analytics have improved the reliability and cost-effectiveness of renewables, making them increasingly attractive for both established and emerging markets. The proliferation of distributed energy resources, such as rooftop solar and community wind projects, is democratizing energy access and empowering consumers to actively participate in the energy transition. These trends are expected to sustain the strong growth momentum of the renewable energy market over the next decade.

Regionally, the Asia Pacific region continues to dominate the renewable energy market, accounting for the largest share in 2024, followed closely by Europe and North America. Rapid industrialization, urbanization, and proactive policy frameworks in countries such as China, India, and Japan have positioned Asia Pacific as a global leader in renewable energy capacity additions. Europe remains at the forefront of innovation and policy support, while North America benefits from abundant natural resources and a mature investment ecosystem. Emerging markets in Latin America, the Middle East, and Africa are also witnessing increased activity, driven by favorable climatic conditions and growing energy demand. Each region presents unique opportunities and challenges, shaping the overall dynamics of the global renewable energy market.

In recent years, the integration of Mining Renewable Energy Systems has gained traction as a pivotal strategy for enhancing the sustainability of mining operations. These systems leverage renewable energy sources such as solar and wind to power mining activities, reducing reliance on fossil fuels and minimizing environmental impact. By harnessing renewable energy, mining companies can significantly lower their carbon footprint and operational costs, while also ensuring a more stable and resilient energy supply. This approach not only aligns with global sustainability goals but also enhances the social license to operate by demonstrating a commitment to environmental stewardship. As the renewable energy market continues to expand

Regulatory Indicators for Sustainable Energy (RISE) is a comprehensive policy scorecard assessing the investment climate for sustainable energy and focusing on three key areas: energy access, energy efficiency and renewable energy. RISE covers 111 countries across the developed and developing worlds, which together represent over 90% of global population, GDP and energy consumption. With 28 indicators, 85 sub-indicators and 158 data points per country, RISE helps policy makers to understand how they are doing, compare across countries, learn from peer groups, and identify priority actions for the future. The source data and documents for 111 countries are available at http://rise.worldbank.org/library To learn more, please visit http://rise.worldbank.org/

One of the actions taken to mitigate the climate change is research, development and demonstration (RD&D) investments in renewable energy (RE) technology. In addition to domestic RD&D spending, the import of foreign technologies, as a main channel of technology transfer, is another option to obtain higher share of renewable energies in order to achieve climate objectives. In this study, a panel dataset of 28 OECD member countries from 2011 to 2020 is analyzed, using the OLS, fixed-effects, and two-step system GMM methods, to assess the impacts of public spending on renewable energy RD&D (RERD) and the import of renewable energy technologies on the energy-related CO2 emissions. To fully capture the significant regional differences, the 28 countries are re-divided into four regions in accordance with their renewable energy RD&D investment level and total CO2 emissions. This study uniquely investigates the impact of RERD and importation–as an alternative channel for obtaining renewable energy technologies–on energy-related CO2 emissions in OECD countries, while also analyzing regional differences to inform targeted local policies. The findings reveal that CO2 emission is significantly and negatively affected by renewable energy imports, for the full panel as well as for Low-RERD and Low-Emission regions. Furthermore, only in High-RERD and High-Emission regions can renewable energy RD&D decrease CO2 emissions. Accordingly, some policy implications are recommended concerning investments in renewable energy RD&D and renewables import.

Snapshot img { margin: 10px !important; } The renewable energy market share in Canada is expected to increase by 18.51 gigawatts from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.37%.

This renewable energy market in Canada research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers renewable energy market segmentation in Canada by end-user (industrial and residential) and type (hydropower, wind, and others). The renewable energy market in Canada report also offers information on several market vendors, including AAA Canada Inc., Bird Construction Inc., Canadian Solar Inc., HELIENE Inc., Innovative Composite Products Inc., Manitoba Hydro, Smart Wires Inc., The Smart Energy Co., VCT Group Inc., and Vestas Wind Systems AS among others.

What will the Renewable Energy Market Size in Canada be During the Forecast Period?

Download the Free Report Sample to Unlock the Renewable Energy Market Size in Canada for the Forecast Period and Other Important Statistics

Renewable Energy Market in Canada: Key Drivers, Trends, and Challenges

The supportive government policies is notably driving the renewable energy market growth in Canada, although factors such as competition from fossil fuels may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the renewable energy industry in Canada. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Renewable Energy Market Driver in Canada

The supportive government policies is one of the key drivers supporting the renewable energy market growth in Canada. Governments across the world support the adoption of solar PV systems by providing incentives, subsidies, and tax benefits to producers and consumers. For instance, in Canada, the investment tax credit (ITC) is an important federal policy developed to support the adoption of solar PV energy in the country. According to the new legislation passed in December 2020, ITC provides a 26% tax credit for solar PV systems installed during 2020-2022 and 22% for systems to be installed in 2023. Meanwhile, many countries are formulating policies to promote the development and adoption of solar power technologies. One notable example is the FiT policy of Canada formulated to encourage investments in renewable energy technologies. Such initiatives from the government will drive market growth during the forecast period.

Key Renewable Energy Market Trend in Canada

The emergence of zero-energy buildings is another factor supporting the renewable energy market growth in Canada. In the country, nearly half of the energy produced is supplied to commercial and residential buildings. The residential sector is one of the major consumers of electricity. However, the concept of ZEBs is an energy-efficient technology in which the building obtains produces its energy using renewables. The energy produced is equal to the amount consumed on an annual basis. They significantly reduce the energy used by slashing the demand and supplying the energy needs from renewable energy sources such as solar panels. The concept is already being implemented in some countries with the help of government regulations and mandates. Thus, the increased adoption of ZEBs will proliferate the use of solar PV systems, which is expected to drive the growth of the market during the forecast period.

Key Renewable Energy Market Challenge in Canada

The competition from fossil fuels is one of the factors hindering the renewable energy market growth in Canada. The cost of establishing a renewable energy facility to produce power is expensive, and the power output from renewable sources is not as much as that from fossil fuels due to the intermittent nature of renewables. For instance, Solar PV installations require a high initial investment even though the material cost has been significantly reduced. The requirement of a vast area for panels to generate a large amount of electricity is the major reason for the increased investment rates. The current decline in the cost of natural gas favors its increased use in power generation, which poses a challenge for energy generation using renewable energy. These factors limit the market growth during the forecast period.

This renewable energy market in Canada analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the renewable energy market in Canada as a part of the global renewable electricity market. Our research report

In 2022, the United States reached a public research and development investment in renewable energy technologies of over *** million euros. France and Spain followed with public R&D investments of some ****** and ****** million euros that year, respectively.

Renewable Energy Market Outlook

According to our latest research, the global renewable energy market size reached USD 1.35 trillion in 2024, reflecting a robust expansion driven by global sustainability initiatives and technological advancements. The market is projected to grow at a CAGR of 9.8% from 2025 to 2033, reaching a forecasted value of USD 3.17 trillion by 2033. This exceptional growth is primarily attributed to the increasing adoption of clean energy technologies, government incentives, and the urgent need to mitigate climate change impacts. The renewable energy market is experiencing a paradigm shift as nations and industries prioritize decarbonization and energy security, making it a cornerstone of the global energy transition.

One of the most significant growth factors for the renewable energy market is the escalating global demand for clean and sustainable energy sources. Governments worldwide are implementing stringent policies and offering attractive subsidies to accelerate the transition from fossil fuels to renewable alternatives. The Paris Agreement and other international climate accords have set ambitious targets for reducing greenhouse gas emissions, compelling countries to invest heavily in renewable infrastructure. This policy-driven momentum is further supported by rising public awareness about environmental issues and the long-term economic benefits of renewable energy, creating a fertile landscape for market expansion.

Technological innovation is another key driver propelling the renewable energy market forward. Advances in photovoltaic cells, wind turbine efficiency, and energy storage solutions have significantly reduced the cost of renewable power generation, making it increasingly competitive with traditional energy sources. The integration of digital technologies such as artificial intelligence, IoT, and blockchain is optimizing energy management, grid integration, and predictive maintenance, further enhancing the reliability and scalability of renewable energy systems. As technology continues to evolve, the barriers to entry are diminishing, enabling broader adoption across diverse sectors and geographies.

Another critical growth factor is the increasing participation of the private sector and financial institutions in renewable energy projects. Investments from venture capital, private equity, and green bonds are fueling the development of large-scale solar farms, wind parks, and bioenergy facilities. Corporate power purchase agreements (PPAs) are also gaining traction, with multinational companies committing to sourcing 100% of their energy from renewables. This influx of capital and corporate commitment is accelerating the commercialization of emerging technologies and fostering innovation across the renewable energy value chain, driving sustained market growth.

The Renewable Energy Investment Index has emerged as a crucial tool for assessing the attractiveness of investments in the renewable sector. This index provides investors with a comprehensive overview of the market dynamics, policy frameworks, and technological advancements that influence investment decisions. By evaluating factors such as regulatory stability, market size, and growth potential, the index helps investors identify promising opportunities and mitigate risks. As the renewable energy market continues to expand, the Renewable Energy Investment Index serves as a valuable resource for guiding strategic investments and fostering sustainable growth in the sector.

From a regional perspective, Asia Pacific stands out as the fastest-growing market for renewable energy, led by China, India, and Japan. The regionÂ’s rapid industrialization, population growth, and urbanization are creating substantial energy demand, which is increasingly being met through renewable sources. Europe remains a leader in policy innovation and market integration, while North America is witnessing a surge in corporate renewable procurement and decentralized energy systems. Latin America and the Middle East & Africa are also emerging as key players, leveraging abundant natural resources and international financing to expand their renewable energy portfolios.

FOREWORD :

In 2013, New Zealand and the European Union co-hosted the Pacific Energy Summit to fast-track sustainable energy development in the Pacific. It resulted in funding commitments of more than $635 million for a range of innovative renewable energy projects, and showed that donors and the private sector were prepared to back the ambition and leadership shown by Pacific governments. Three years on and the change across the region has been marked. Whole atolls are now 100 per cent renewable, many more people have access to clean and reliable power, the amount of diesel imported for electricity generation has fallen dramatically, and Pacific countries can now better manage the impacts of climate change.

The Pacific is home to some of the countries most at risk from the effects of climate change. It is now also home to countries that are leading the world in reducing their fossil fuel consumption and shifting to renewable sources of electricity generation. We also acknowledge the huge contribution of donors and development partners in supporting Pacific governments to achieve progress and following through on the commitments made at the Summit. Enormous opportunities still exist across the region.

This publication presents the energy profiles of 18 Pacific countries and territories. It summarises their progress since the 2013 Summit and identifies new opportunities for investment.

Keywords: Pacific Energy Summit, Pacific Energy country profile, Pacific countries, New Zealand Ministry of Foreign Affairs and Trade (MFAT), European Union, Electricity, Renewable energy, Propose projects for investments.

While ADB’s renewable energy investments were slightly under a billion dollars in 2015, the overall renewable energy market is healthier than ever. Bloomberg New Energy Finance, through an analysis of the levelized cost of electricity for onshore wind and solar photovoltaic energy, has stated that these two renewable energy sources are fully competitive with coal across the lifetime of a power plant, with onshore wind being the cheapest source of electricity in Germany. A cycle where new renewables slowly out-compete fossil fuel generation, and create a market where it becomes more economical to develop renewables and less economical to back fossil fuel plants, may have already begun. The countries of developing Asia and the Pacific region have a roadmap for the future, and while difficult challenges of policy, questions of economics, and limitations of technology may slow progress, it will not stop the region’s continuing, and growing, development of clean energy solutions. Beyond its financing targets, ADB pledges to aid the developing countries of Asia and the Pacific region in overcoming any and all of the barriers preventing greater adoption of clean energy.

Description

Uncover this dataset showcasing sustainable energy indicators and other useful factors across all countries from 2000 to 2020. Dive into vital aspects such as electricity access, renewable energy, carbon emissions, energy intensity, Financial flows, and economic growth. Compare nations, track progress towards Sustainable Development Goal 7, and gain profound insights into global energy consumption patterns over time.

Key Features:

• Entity: The name of the country or region for which the data is reported.
• Year: The year for which the data is reported, ranging from 2000 to 2020.
• Access to electricity (% of population): The percentage of population with access to electricity.
• Access to clean fuels for cooking (% of population): The percentage of the population with primary reliance on clean fuels.
• Renewable-electricity-generating-capacity-per-capita: Installed Renewable energy capacity per person
• Financial flows to developing countries (US $): Aid and assistance from developed countries for clean energy projects.
• Renewable energy share in total final energy consumption (%): Percentage of renewable energy in final energy consumption.
• Electricity from fossil fuels (TWh): Electricity generated from fossil fuels (coal, oil, gas) in terawatt-hours.
• Electricity from nuclear (TWh): Electricity generated from nuclear power in terawatt-hours.
• Electricity from renewables (TWh): Electricity generated from renewable sources (hydro, solar, wind, etc.) in terawatt-hours.
• Low-carbon electricity (% electricity): Percentage of electricity from low-carbon sources (nuclear and renewables).
• Primary energy consumption per capita (kWh/person): Energy consumption per person in kilowatt-hours.
• Energy intensity level of primary energy (MJ/$2011 PPP GDP): Energy use per unit of GDP at purchasing power parity.
• Value_co2_emissions (metric tons per capita): Carbon dioxide emissions per person in metric tons.
• Renewables (% equivalent primary energy): Equivalent primary energy that is derived from renewable sources.
• GDP growth (annual %): Annual GDP growth rate based on constant local currency.
• GDP per capita: Gross domestic product per person.
• Density (P/Km2): Population density in persons per square kilometer.
• Land Area (Km2): Total land area in square kilometers.
• Latitude: Latitude of the country's centroid in decimal degrees.
• Longitude: Longitude of the country's centroid in decimal degrees.

Potential Use cases

• Energy Consumption Prediction: Predict future energy usage, aid planning, and track SDG 7 progress.
• Carbon Emission Forecasting: Forecast CO2 emissions, support climate strategies.
• Energy Access Classification: Categorize regions for infrastructure development, understand sustainable energy's role.
• Sustainable Development Goal Tracking: Monitor progress towards Goal 7, evaluate policy impact.
• Energy Equity Analysis: Analyze access, density, and growth for equitable distribution.
• Energy Efficiency Optimization: Identify intensive areas for environmental impact reduction.
• Renewable Energy Potential Assessment: Identify regions for green investments based on capacity.
• Renewable Energy Investment Strategies: Guide investors towards sustainable opportunities.

The Chinese renewable energy market is experiencing robust growth, driven by the government's ambitious targets for carbon neutrality and increasing energy security concerns. With a Compound Annual Growth Rate (CAGR) exceeding 8.70%, the market is projected to expand significantly from its 2025 value. Several factors contribute to this expansion. Firstly, substantial investments in renewable energy infrastructure, including large-scale solar and wind farms, are underway. Secondly, technological advancements are leading to cost reductions in renewable energy technologies, making them increasingly competitive with fossil fuels. Government policies, such as feed-in tariffs and tax incentives, are further stimulating market growth. Thirdly, a growing awareness of environmental issues among consumers and businesses is fueling demand for cleaner energy sources. Finally, China's vast land area and diverse renewable energy resources provide ample opportunities for development. The market is segmented into Hydro, Wind, Solar, and Other Renewable Energy sources, with solar and wind power expected to dominate due to their scalability and decreasing costs. Major players like Sinohydro Corporation, Goldwind, and JinkoSolar are driving innovation and market expansion, while the government's commitment to supporting domestic companies ensures continued growth. The regional distribution of the market reflects the varying potential for renewable energy across the country, with certain provinces experiencing higher levels of development than others. The forecast period of 2025-2033 promises continued expansion, making the Chinese renewable energy market an attractive investment prospect. While the precise market size for 2025 is not provided, the CAGR of 8.70% and the indicated "Value Unit Million" suggest a substantial market value. Assuming a 2025 market size of approximately $200 billion (USD), projections for future years can be derived based on the CAGR. This growth trajectory is supported by China's national energy policies and ongoing investment in renewable infrastructure. The various segments—hydropower, wind, solar, and others—will each contribute to this overall growth, although the precise proportions may shift based on technological advancements and policy changes. Competition within the market is fierce, with both domestic and international companies vying for market share. The continued focus on technological innovation and cost reduction will be key to maintaining the high growth trajectory forecast for the coming years. Recent developments include: In July 2022, the National Development and Reform Commission of China announced a plan for new-build public buildings and factories in towns and cities to be covered at 50% by solar panels by 2025, which is expected to be a significant driver for the solar energy market in the country., In December 2021, the Yangjiang Shapa Phase 2 offshore wind farm was fully operational. The project is located in the waters west of Shapa, off the city of Yangjiang in Guangdong Province, and has a capacity of 400 MW comprising 62 6.45 MW offshore wind turbines.. Notable trends are: Solar Energy Segment to Witness Significant Growth.