This release includes annual estimates of low carbon and renewable energy economy activity in the UK and constituent countries: turnover, employment, exports, imports, acquisitions, disposals and number of businesses.

The turnover from the United Kingdom's Low Carbon and Renewable Energy Economy (LCREE) was estimated at 69.3 billion GBP in 2022. The UK's low carbon electricity segment, which includes offshore and onshore wind, solar, and nuclear power, accounted for roughly 42 percent of this total. The second-largest contributor to UK LCREE turnover in 2022 was energy efficient products.

Turnover from the United Kingdom's Low Carbon and Renewable Energy Economy (LCREE) was estimated at 69.3 billion GBP in 2022. The biggest overall contributor to this total was the energy efficient products segment, with almost 15 billion GDP. Within the low carbon electricity segment, offshore and onshore wind generated the most turnover, at approximately 12.2 and 6.8 billion GBP, respectively.

There were approximately 272 thousand full-time equivalent jobs in the UK's Low Carbon and Renewable Energy Economy (LCREE) in 2022. Around 30 percent of LCREE jobs were in the energy efficient products subsector. Meanwhile, the UK's low carbon electricity sector employed around 53 thousand people, with the nuclear power and offshore wind subsectors the biggest employers within this segment.

Annual multipliers used to estimate low carbon and renewable energy economy total activity in the UK and constituent countries by energy groups and sectors.

Experimental estimates of turnover and employment in the Low carbon and renewable energy economy (LCREE) in the UK, its constituent countries and regions of England using data from the LCREE Survey and the Inter-Departmental Business Register.

According to Cognitive Market Research, the global renewable energy investment market size will be 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 desp...

Renewable energy holds a remarkable role in clean energy adaptation due to the much lower carbon footprint it releases compared to other fossil fuels. It also has a positive impact by slowing down the rate of climate change. The study has examined the links between renewable and non-renewable energy use, CO2 emissions and economic growth in developed, developing, and LDCs and Economies in Transition between 1990 and 2019 in 152 countries. Granger-causality has been used as the methodology to investigate the link between the variables. The findings of the existing studies on the relationship between the consumption of renewable and non-renewable energy sources and economic growth are inconsistent, indicating that there may or may not be a relationship between the two factors. Apart from having a few empirical studies so far have examined the link between the above-mentioned variables, analysis has yet to encompass all the regions in the four sub-groups discussed above. The results indicated that no Granger-causal relationship exists between GDP and REC outside of Economies in Transition. Additionally, the GDP and CO2 of all countries have a one-way relationship. Nevertheless, research indicates that GDP and CO2 have a bi-directional link in Economies in Transition, a uni-directional relationship in developing countries, and no meaningful association in developed and LDCs. Therefore, it is essential to emphasise actions to lower CO2 emissions and develop renewable energy while also stimulating the economy. Ultimately, more nations should choose renewable energy sources to build a more sustainable future.

There were approximately 272 thousand full-time equivalent jobs in the UK's Low Carbon and Renewable Energy Economy (LCREE) in 2022. This figure has grown by 36 percent since 2015. 135 thousand of these LCREE jobs were in the energy efficiency products segment. Additionally, there were just over 40,000 jobs in the low emission vehicles and infrastructure segment in 2022, a near threefold increase from 2015 figures.

Spanish Renewable Energy Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period, i.e., 2024 to 2031.

Spanish Renewable Energy Market Drivers

Strong Government Support: The Spanish government has implemented supportive policies and incentives to promote renewable energy, including feed-in tariffs, tax breaks, and streamlined permitting processes.

Abundant Natural Resources: Spain is blessed with abundant solar and wind resources, making it an ideal location for renewable energy generation.

Climate Change Mitigation Goals: Spain, like many other countries, is committed to reducing greenhouse gas emissions and transitioning to a low-carbon economy. Renewable energy plays a crucial role in achieving these goals.

Energy Security: By diversifying its energy mix and reducing reliance on fossil fuels, Spain can improve its energy security and mitigate the risks associated with volatile fossil fuel prices.

The massive consumption of energy promotes rapid economic growth, but it also unavoidably results in a large amount of greenhouse gas emissions, which seriously hinders society’s green and low-carbon development. This paper aims to explore the real impact of renewable energy and digitalization on greenhouse gas emissions from an energy-related perspective using advanced panel econometrics methods based on G7 panel data for 1990–2020. Economic growth and energy efficiency are also considered as control variables. Due to the nonlinear properties of panel data, the moment quantile regression approach is utilized in this research. The findings show that slope heterogeneity is widespread, section-dependent, and has a long-term equilibrium relationship. In addition, digitalization, renewable energy, and energy efficiency can reduce energy-related greenhouse gas emissions and ease environmental pressures. Economic expansion, on the other hand, remains an important positive driver for energy-related greenhouse gas emissions. The results of this study are robust and the causal relationships between variables are tested. Based on the conclusion presented above, this study advises the G7 economies to expand investments in renewable energy and digitalization to promote energy system transformation and pave the road for global decarbonization objectives to be met.

The global Low Carbon Hydrogen Market size was valued at USD 27.6 billion in 2025 and is projected to expand at a compound annual growth rate (CAGR) of 16.0% from 2025 to 2033. Low-carbon hydrogen is produced through processes that emit minimal or no greenhouse gases, such as electrolysis of water powered by renewable energy sources. The rising demand for clean and sustainable energy, coupled with government initiatives to promote hydrogen economy and reduce carbon emissions, drives the market growth. Key trends in the low carbon hydrogen market include the increasing adoption of hydrogen-powered vehicles, the development of renewable hydrogen production technologies, and the expansion of hydrogen refueling infrastructure. Major market players include Green Hydrogen International, Intercontinental Energy Corp, H2 Clean Energy, and Fortescue Future Industries Pty Ltd. The market is geographically segmented into North America, South America, Europe, the Middle East & Africa, and Asia Pacific. North America is expected to dominate the market throughout the forecast period, followed by Europe and Asia Pacific. Notable trends are: Requirements to Achieve Net Zero Emissions Reduced-Carbon Hydrogen Alternatives will Boost the Market Growth.

The data has been sourced from the International Renewable Energy Agency (https://pxweb.irena.org/pxweb/en/IRENASTAT). The indicators on energy transition have been formulated to help users understand the progress in the adoption of renewable energy sources vis-à-vis the increasing energy requirements.Sources: International Renewable Energy Agency (IRENA) (2022), Renewable Energy Statistics 2022, https://pxweb.irena.org/pxweb/en/IRENASTAT; IMF Staff Calculations.Category: Mitigation,Transition to a Low-Carbon Economy Data series: Electricity GenerationElectricity Installed Capacity Metadata:Electricity generation: The gross electricity produced by electricity plants, combined heat and power plants (CHP) and the distribution generators measured at the output terminals of generation. It includes on-grid and off-grid generation, and it also includes the electricity self-consumed in energy industries; not only the electricity fed into the grid (net electricity generation). The indicator is expressed in the Dashboard in Gigawatt hours (GWh).Electricity Installed Capacity: The maximum active power that can be supplied continuously (i.e., throughout a prolonged period in a day with the whole plant running) at the point of outlet (i.e. after taking the power supplies for the station auxiliaries and allowing for the losses in those transformers considered integral to the station). This assumes no restriction of interconnection to the network. It does not include overload capacity that can only be sustained for a short period of time (e.g., internal combustion engines momentarily running above their rated capacity). For most countries and technologies, the data on installed capacity on the Dashboard reflects the capacity installed and connected at the end of the calendar year and are expressed in Mega Watts (MW). The renewable power capacity data shown in these tables represents the maximum net generating capacity of power plants and other installations that use renewable energy sources to produce electricity. For most countries and technologies, the data reflects the capacity installed and connected at the end of the calendar year. Pumped storage is included in total capacity but excluded from total generation. The capacity data are presented in megawatts (MW) and the generation data are presented in gigawatt-hours (GWh). All the data are rounded to the nearest one MW/GWh, with figures between zero and 0.5 shown as a 0.

Nationwide rapid urbanization has been a key driver of economic growth, energy consumption, and carbon emission in China. To avoid the high energy consumption and pollution present in other industrialized countries, China is making the economic and social transition from a high-carbon model to a low-carbon model. The low-carbon city pilots (LCCPs) programme was launched by the National Development and Reform Commission (NDRC) to resolve the dilemma between economic development and transitioning to a low-carbon model. The status quos of these pilots in different regions have set CO2 intensity per unit of gross domestic product (GDP), CO2 emissions per capita, CO2 reduction targets, and CO2 discharge peak times. Traditional policies, including those aimed at improving energy efficiency, applying renewable energy, adjusting sector structure, and increasing carbon sequestration capacity, are being widely applied in the form of command-mandatory tools, market-economic tools, and voluntary tools. By summarizing these policies, low-carbon development plans, LCCP governments reports, and a case study focusing on Zhenjiang (practical experiences based on city features), this article proposes implications for how to achieve the LCCPs’ low-carbon goals.

Policy relevance

China has launched a low-carbon city pilots (LCCPs) programme to promote its future low-carbon urbanization, but the cities concerned have not yet managed to achieve true ‘low-carbon' status in terms of CO2 per unit of GDP and CO2 per capita. To improve the performance of LCCPs, central government should provide guidance on institutional framework and policies, while local governments should establish carbon management systems. Both central and local governments should establish a policy assessment system and use integrated policy tools as part of their low-carbon development plans.

This table contains 120 series, with data for years 2015 - 2015 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (8 items: Canada; Atlantic provinces; Quebec; Ontario; ...); Environmental and clean technology goods and services (15 items: Total goods; Renewable energy production; Non-hazardous waste management; Industrial air pollution or flue gas management; ...).

Finland Energy Consumption: FR: Renewable Energy data was reported at 490,767.000 TJ in 2017. This records an increase from the previous number of 464,943.000 TJ for 2016. Finland Energy Consumption: FR: Renewable Energy data is updated yearly, averaging 217,300.000 TJ from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 490,767.000 TJ in 2017 and a record low of 161,759.000 TJ in 1976. Finland Energy Consumption: FR: Renewable Energy data remains active status in CEIC and is reported by Statistics Finland. The data is categorized under Global Database’s Finland – Table FI.RB001: Energy Consumption and CO2 Emissions.

The low-carbon hydrogen market is experiencing significant growth, driven by increasing global efforts to decarbonize various industries and mitigate climate change. The market, valued at approximately $50 billion in 2025, is projected to exhibit a robust Compound Annual Growth Rate (CAGR) of 25% from 2025 to 2033. This expansion is fueled by several key drivers, including stringent environmental regulations, the growing demand for clean energy sources, and substantial government investments in renewable energy technologies. The transition to a low-carbon economy is creating a favorable environment for hydrogen production and adoption across diverse sectors. Green hydrogen, produced through electrolysis powered by renewable energy, is gaining prominence, while blue hydrogen, derived from natural gas with carbon capture and storage, plays a crucial role in the near-term transition. Market segmentation reveals strong growth potential across various applications. The steel, power, and transportation sectors are leading adopters, driving demand for low-carbon hydrogen in steelmaking, power generation, and fuel cell vehicles. However, challenges remain, including the high cost of green hydrogen production and the need for efficient storage and transportation infrastructure. While technological advancements are steadily reducing production costs, overcoming these hurdles is crucial for achieving widespread market penetration. The geographic distribution of the market is diverse, with North America, Europe, and Asia Pacific representing key regions, each exhibiting unique growth trajectories influenced by local policies, resource availability, and technological development. The competitive landscape is characterized by a mix of established energy giants and emerging technology companies, fostering innovation and driving market expansion. This comprehensive report provides an in-depth analysis of the burgeoning low-carbon hydrogen market, projecting robust growth fueled by stringent environmental regulations and the urgent need for decarbonization across various sectors. We delve into the market dynamics, key players, technological advancements, and future outlook, offering invaluable insights for stakeholders seeking to navigate this rapidly evolving landscape. Keywords: Green Hydrogen, Blue Hydrogen, Hydrogen Production, Hydrogen Fuel, Hydrogen Energy, Decarbonization, Renewable Energy, Hydrogen Economy, Hydrogen Technology.

Detailed estimates of low carbon and renewable energy economy in 2014.