What is the story about?
What's Happening?
The global renewable energy market is expected to grow significantly, reaching $3.875 trillion by 2035, driven by the adoption of solar, wind, hydro, and other green energy sources. Transparency Market Research Inc. reports a compound annual growth rate of 12.5% from 2025 to 2035. Governments, corporations, and communities are prioritizing renewable energy to combat climate change and achieve energy independence. Technological advancements and declining costs have made renewables competitive with traditional energy sources, leading to mainstream adoption of green hydrogen, offshore wind, and floating solar farms.
Why It's Important?
The expansion of the renewable energy market signifies a shift towards sustainable energy solutions, reducing reliance on fossil fuels and supporting global net-zero carbon targets. This growth is expected to drive economic development, create jobs, and enhance energy security. Major players like Iberdrola, Enel, Ørsted, and NextEra are capitalizing on large-scale portfolios and advanced digital operations to optimize performance and reliability, positioning themselves as leaders in the transition to clean energy.
What's Next?
The Asia-Pacific region is expected to lead growth, followed by Europe and North America, with strong policy support and large-scale investments. The integration of renewable energy into heavy industries and transportation sectors will further accelerate market expansion, creating opportunities for innovation and collaboration.
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