Market Overview

Green energy is renewable energy that is commercially viable and is used to generate energy around the globe. Green energy extract energy from natural sources such as tides, solar photovoltaic, sun, and wind. Green energy is widely used across residential, commercial, and industrial sectors. Green energy is an ideal alternative to fossil fuels.

The global green energy market is estimated to be valued at US$ 975.79 billion in 2021 and is expected to exhibit a CAGR of 8.3 % over the forecast period (2021-2028).

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Market Dynamics

The growing need for clean energy sources due to rising environmental concerns and the need to reduce energy consumption is driving growth of the green energy market. According to the Center for Climate and Energy Solutions, renewables made up 26.2 percent of global electricity generation in 2018. That’s expected to rise to 45 percent by 2040. Most of the increase will likely come from solar, wind, and hydropower.

On the other hand, a lack of awareness regarding green energy is expected to hinder growth of the market.

Detailed Segmentation:

Global Green Energy Market, By Product Type:

Solar photovoltaic

Wind energy

Hydroelectric power

Biofuels

Geothermal energy

Global Green Energy Market, By Application:

Residential

Commercial

Industrial

Key companies covered as a part of this study include ABB Ltd., Alterra Power Corporation, Kyocera Solar, Inc., Nordex SE, Hanwha Q Cells GmbH, Sharp Corporation, Calpine Corporation, Suzlon Energy Ltd., U.S. Geothermal Inc., Yingli Green Energy Holding Co. Ltd., Enercon GmbH, and GE Energy

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