The overall share of renewables in the European Union's final energy consumption reached 24.6 percent in 2023. Sweden was the country with the largest share of renewables with over 66 percent of energy consumption covered by renewables that year. According to the 2030 renewable energy targets of the region, EU member states must reach a renewable consumption share of at least 42.5 percent by 2030.

In 2021, Austria was the country with the largest share of renewables in final electricity consumption within the European Union, with more than 76 percent. Sweden followed, with a share of 75.7 percent. In contrast, Malta ranked last within the EU, with renewables accounting for less than 10 percent of final electricity consumption in the country that year.

This table expresses the use of renewable energy as gross final consumption of energy. Figures are presented in an absolute way, as well as related to the total energy use in the Netherlands. The total gross final energy consumption in the Netherlands (the denominator used to calculate the percentage of renewable energy per ‘Energy sources and techniques’) can be found in the table as ‘Total, including non-renewables’ and Energy application ‘Total’. The gross final energy consumption for the energy applications ‘Electricity’ and ‘Heat’ are also available. With these figures the percentages of the different energy sources and applications can be calculated; these values are not available in this table. The gross final energy consumption for ‘Transport’ is not available because of the complexity to calculate this. More information on this can be found in the yearly publication ‘Hernieuwbare energie in Nederland’.

Renewable energy is energy from wind, hydro power, the sun, the earth, heat from outdoor air and biomass. This is energy from natural processes that is replenished constantly.

The figures are broken down into energy source/technique and into energy application (electricity, heat and transport).

This table focuses on the share of renewable energy according to the EU Renewable Energy Directive. Under this directive, countries can apply an administrative transfer by purchasing renewable energy from countries that have consumed more renewable energy than the agreed target. For 2020, the Netherlands has implemented such a transfer by purchasing renewable energy from Denmark. This transfer has been made visible in this table as a separate energy source/technique and two totals are included; a total with statistical transfer and a total without statistical transfer.

Figures for 2020 and before were calculated based on RED I; in accordance with Eurostat these figures will not be modified anymore. Inconsistencies with other tables undergoing updates may occur.

Data available from: 1990

Status of the figures: This table contains definite figures up to and including 2022 and figures of 2023 are revised provisional figures.

Changes as of January 2025 Renewable cooling has been added as Energy source and technique from 2021 onwards, in accordance with RED II. Figures for 2020 and earlier follow RED I definitions, renewable cooling isn’t a part of these definitions.
The energy application “Heat” has been renamed to “Heating and cooling”, in accordance with RED II definitions. RED II is the current Renewable Energy Directive which entered into force in 2021

Changes as of November 15th 2024 Figures for 2021-2023 have been adjusted. 2022 is now definitive, 2023 stays revised provisional. Because of new insights for windmills regarding own electricity use and capacity, figures on 2021 have been revised.

Changes as of March 2024: Figures of the total energy applications of biogas, co-digestion of manure and other biogas have been restored for 2021 and 2022. The final energy consumption of non-compliant biogas (according to RED II) was wrongly included in the total final consumption of these types of biogas. Figures of total biogas, total biomass and total renewable energy were not influenced by this and therefore not adjusted.

When will new figures be published? Provisional figures on the gross final consumption of renewable energy in broad outlines for the previous year are published each year in June. Revised provisional figures for the previous year appear each year in June.

In November all figures on the consumption of renewable energy in the previous year will be published. These figures remain revised provisional, definite figures appear in November two years after the reporting year. Most important (expected) changes between revised provisional figures in November and definite figures a year later are the figures on solar photovoltaic energy. The figures on the share of total energy consumption in the Netherlands could also still be changed by the availability of adjusted figures on total energy consumption.

The Market Report Covers European Renewable Energy Companies and is Segmented by Type (Hydropower, Solar, Wind, and Others) and Geography (Germany, United Kingdom, Italy, Spain, France, and Rest of Europe).

South Europe Renewable Energy Market is segmented by Type (Hydropower, Solar, Wind, and Others) and Geography (Italy, Spain, Portugal, and Others). The report offers the market size and forecasts for the renewable energy market in Installed Capacity (in GW) in all the above segments.

As of February 2025, several countries across the European Union had established ambitious renewable power targets. Estonia and Sweden plan to achieve a 100 percent renewable electricity generation by 2030. In contrast, Poland's renewable targets for that year were just over 50 percent. According to the EU Renewable Energy Directive, countries in the European Union must reach a share of at least 42.5 percent of renewables in their total energy consumption, although the directive encourages to aim for 45 percent. Renewable energy pipeline in Europe The further deployment of renewable technologies in the region is essential to achieve these targets. As of February 2025, prospective wind energy projects in Europe’s renewable pipeline amounted to more than 645 gigawatts, although from this, only 22 megawatts were already in the construction stage. Northern Europe accounted for most of the wind energy planned capacity in the region. Regarding solar, Europe had a utility-scale prospective capacity of 255 gigawatts, with Southern Europe accounting for most of planned installations.
Europe’s wind and solar outlook In the next years, wind and solar installations are forecast to more than double in the European Union. It is estimated that in 2030, the region’s solar capacity will amount to some 625 gigawatts, growing from the 257 gigawatts operating at the end of 2023. For wind, forecasts point to an installed capacity of roughly 400 gigawatts by 2030. Approximately 20 percent of this capacity will correspond to offshore installations.

The Report Covers the Top Renewable Energy Companies in North Europe and the market is segmented by Type (Wind, Hydro, Solar, and Others) and Geography (Sweden, Norway, UK, and the Rest of North Europe). The market size and forecasts are provided in installed capacity (GW).

East Europe Renewable Energy Market is segmented by Type (Hydropower, Solar, and Others) and Geography (Russia, Poland, Ukraine, and Others). The report offers the market size and forecasts in installed capacity (GW).

The share of renewables in gross final energy consumption has continuously increased in the European Union over the years. Between 2012 and 2023, figures rose from 14.2 percent to 24.6 percent in 2023. The share of renewable energy in final energy consumption peaked in that last year.

The West European renewable market is segmented by type (solar, wind, bioenergy, and other types) and geography (the United Kingdom, Germany, France, Ireland, and the rest of West Europe). The report offers market size and forecasts in installed capacity (GW) for all the above segments.

The indicator is calculated as required by Directive 2009/28/EC on the promotion of energy from renewable energy sources. The data are collected from EU Member States national renewable energy action plans (NREAPs) as an obligation of Article 4 of the Directive 2009/28/EC. The share of renewable energy in gross final energy consumption is calculated for the transport sector

Sector coverage: The indicator covers renewable energy share in transport- res-tr (%)

The indicator measures the share of renewable energy consumption in gross final energy consumption according to the Renewable Energy Directive. The gross final energy consumption is the energy used by end-consumers (final energy consumption) plus grid losses and self-consumption of power plants.

The Renewable Energy Directive 2009/28/EC and its recast 2018/2001/EU commit the EU to achieving a 20 % share of renewable energy sources (RES) in its gross final energy consumption by 2020, and 32 % by 2030. They also set a target of 10 % share of renewable energy in transport by 2020, and 14% by 2030. Since early access to the most recent information on the growth of RES is relevant for all stakeholders, the EEA and its European Topic Centre for Climate Change Mitigation and Energy (ETC/CME) produce each year a set of early estimates concerning the RES shares achieved by the countries and the EU as a whole in the previous year. The current data set concerns the EEA 2020 RES share proxies. The cut-off date for most data sources incorporated in the calculation of the approximated RES shares is 31 July of the publication year.

European Union Renewable Energy Sources: Share: EU 27E: Heating & Cooling data was reported at 26.237 % in 2023. This records an increase from the previous number of 25.026 % for 2022. European Union Renewable Energy Sources: Share: EU 27E: Heating & Cooling data is updated yearly, averaging 19.486 % from Dec 2004 (Median) to 2023, with 20 observations. The data reached an all-time high of 26.237 % in 2023 and a record low of 11.735 % in 2004. European Union Renewable Energy Sources: Share: EU 27E: Heating & Cooling data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.RB015: Renewable Energy: Share: by Energy Balance.

The European Union's renewable energy generation capacity reached almost 614 gigawatts in 2022. The share of renewables in the EU's electricity sector was 37.6 percent in 2021.

The size of the Europe Renewable Energy Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.00">> 7.00% during the forecast period. The renewable energy sector in Europe is undergoing significant expansion, propelled by the continent's ambitious climate objectives and a robust commitment to lowering greenhouse gas emissions. European countries are leading the global shift towards cleaner energy alternatives, with the European Union aiming for carbon neutrality by 2050. This dedication has led to considerable investments in a range of renewable technologies, including wind, solar, hydro, and biomass energy. Offshore wind energy, in particular, has emerged as a fundamental element of Europe’s renewable energy strategy, with major projects in progress in nations such as the United Kingdom, Germany, and Denmark. The solar energy sector is also on the rise, characterized by numerous large-scale photovoltaic (PV) installations and rooftop solar systems being implemented throughout the region. Hydropower continues to play a vital role, especially in countries rich in water resources like Norway and Sweden, while biomass energy adds to the overall renewable energy portfolio. The European renewable energy market is supported by favorable policies and incentives, including feed-in tariffs and green certificates, which promote investment and development. Nevertheless, challenges remain, such as the integration of variable renewable sources into the energy grid, energy storage management, and navigating regulatory complexities. Despite these obstacles, the renewable energy industry in Europe is poised for ongoing growth, underscoring the continent’s commitment to sustainable development and a cleaner energy future. Recent developments include: In September 2022, Orsted AS entered into an agreement with Ostwind, a developer of wind and solar PV projects in Germany and France, to acquire a 100 per cent equity interest in OSTWIND Erneuerbare Energien GmbH, OSTWINDpark Rotmainquelle GmbH & Co. K.G., OSTWIND International S.A.S., and OSTWIND Engineering S.A.S., In September 2022, Mercedes-Benz, a German luxury and commercial vehicle automotive manufacturer has, announced its plan to build a wind farm in the northwestern German state of Lower Saxony, by the year 2025, which will be able to produce a hundred megawatts of electricity, equivalent to over 15 per cent of the carmaker's annual demand in Germany.. Key drivers for this market are: Integration of Renewable Energy4., Supportive Government Policies. Potential restraints include: High infrastructure costs. Notable trends are: Wind Energy Segment is Expected to Dominate the Market.

The Europe renewable energy market size reached around 2455.00 Gigawatt in 2024. The market is projected to grow at a CAGR of 7.60% between 2025 and 2034 to reach nearly 5107.10 Gigawatt by 2034.

The product has been discontinued since: 08 Feb 2018.

This indicator is calculated on the basis of data covered by Regulation (EC) No 1099/2008 on energy statistics. Reporting countries provide additional information on renewable source not covered by the Regulation. The contribution of compliant biofuels is included only as of year 2011 and only for countries that confirmed full compliance with Article 17 “Sustainability criteria for biofuels and bioliquids” and Article 18 “Verification of compliance with the sustainability criteria for biofuels and bioliquids” of Directive 2009/28/EC – only quantities of biofuels that are compliant (sustainable) are counted towards the indicator. In period 2004-2010 all biofuels are counted towards the numerator of the share of renewable energy in fuel consumption of transport. All calculation provisions of Article 3(4) apply as well. More information about the renewable energy shares calculation methodology can be found on the Eurostat website. More information on renewable energies can be found on the DG Energy website.

According to Cognitive Market Research, the global Renewable energy market size will be USD 1124514.6 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 449805.84 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 337354.38 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 258638.36 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 56225.73 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 22490.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The Solar PV segment is the dominant category in the renewable energy market, driven by its widespread adoption and decreasing cost

Market Dynamics of Renewable energy Market

Key Drivers for Renewable energy Market

Rising Global Awareness About Climate Change to Boost Market Growth

As climate change concerns intensify worldwide, there is a significant push for sustainable energy sources. The environmental impact of fossil fuels, including carbon emissions, has led governments, businesses, and individuals to prioritize the transition to renewable energy. This shift is further supported by scientific studies linking climate change to extreme weather patterns, which has made the public more conscious of the urgent need for eco-friendly energy solutions. Governments are increasingly setting ambitious renewable energy targets, which are contributing to the accelerated adoption of clean energy technologies globally. For instance, In February 2023, Green World Renewable Energy LLC launched innovative solar panel and combiner box at ISNA, solar storage exhibition. This solar energy product provides a reliable and efficient solution for harnessing the power of the sun. This system is designed to meet the growing demand for renewable energy sources and provides a clean, cost-effective, and sustainable alternative to traditional energy sources

Technological Advancements Reducing Costs to Drive Market Growth

The renewable energy market has witnessed significant technological advancements, particularly in solar and wind energy production, which have driven down production and installation costs. Innovations such as more efficient photovoltaic panels, larger and more efficient wind turbines, and energy storage systems have made renewable energy more affordable and accessible. As these technologies continue to evolve, economies of scale are improving, further reducing the cost of renewable energy generation. The decreasing costs, combined with increased efficiency, have encouraged both private and public sector investments, contributing to the market's growth.

Restraint Factor for the Renewable energy Market

High Initial Capital Investment, will Limit Market Growth

Despite the long-term savings and environmental benefits, one of the key barriers to the widespread adoption of renewable energy is the high upfront capital investment required for infrastructure development. The installation of solar panels, wind turbines, and other renewable energy systems demands substantial financial resources, which can be a deterrent for smaller businesses or individuals. Although costs have decreased over the years, the financial commitment for setting up renewable energy facilities, including grid integration, can still be prohibitive. This makes it challenging for emerging economies or less affluent communities to transition to renewable energy solutions.

Impact of Covid-19 on the Renewable energy Market

Covid-19 pandemic had a significant impact on the renewable energy market, causing delays in project timelines and disruptions in supply chains. Global lockdowns led to the temporary closure of manufacturing plants, resulting in shortages of essential components like solar panels and wind turbine parts. Construction activities were also hinde...

According to Cognitive Market Research, the global Renewable Energy Source market size will be USD 915245.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 17.20% 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 366098.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 274573.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 210506.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 45762.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.6% 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 18304.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031.
The Solar Energy category is the fastest growing segment of the Renewable Energy Source industry

Market Dynamics of Renewable Energy Source Market

Key Drivers for Renewable Energy Source Market

Increasing awareness of climate change to Boost Market Growth

Increasing awareness of climate change is significantly driving the renewable energy source market as individuals and organizations recognize the urgent need to transition away from fossil fuels. Public concern over environmental issues has led to heightened demand for sustainable energy solutions that can mitigate climate impacts. This awareness has influenced governments to implement supportive policies and incentives to promote renewable technologies, encouraging investments in clean energy projects. Additionally, corporations are increasingly adopting sustainability goals, driving further investment in renewable energy sources. As consumers demand greener products and practices, the market is shifting towards cleaner energy alternatives, reinforcing the commitment to combat climate change and ensuring a more sustainable future. For instance, ArcelorMittal announced that its Brazilian division, ArcelorMittal Brazil, has partnered with Casa dos Ventos, a Brazilian renewable energy firm, to create a joint venture for the Babilonia wind power project, which has a capacity of 554 MW. This initiative is projected to require an investment of USD 800 million and will be situated in Bahia’s central region in northeastern Brazil. ArcelorMittal is expected to retain a 55% stake in the joint venture, with Casa dos Ventos owning the remaining share.

Declining costs of renewable technologies to Drive Market Growth

The declining costs of renewable technologies are a significant driver of the renewable energy source market, making clean energy solutions more accessible and appealing. Advances in manufacturing processes, economies of scale, and increased competition have led to substantial reductions in the prices of solar panels, wind turbines, and energy storage systems. As these technologies become more affordable, both businesses and consumers are more inclined to invest in renewable energy solutions, resulting in higher adoption rates. Lower costs also enhance the financial viability of renewable projects, attracting investments from various sectors. This trend not only supports the global transition towards sustainable energy but also encourages innovation and development within the industry, fostering further advancements in renewable technologies.

Restraint Factor for the Renewable Energy Source Market

High Initial Costs will Limit Market Growth

High initial costs are a significant restraint on the renewable energy source market, often deterring investment and adoption. Many renewable technologies, such as solar panels, wind turbines, and energy storage systems, require substantial upfront capital for installation and infrastructure development. This financial barrier can be particularly challenging for small businesses and low-income households, limiting their access to renewable energy solutions. While long-term savings on energy bills can offset these costs, the lack of immediate affordability may discourage potential users. Additionally, financing options ma...