By 2030, renewable sources could provide as much as half of the world’s electricity production, offering excellent growth for investors.
The renewable energy market is powering forward and is presenting a sea of opportunity for investment. The renewable energy market is expected to grow from $184.3 billion in 2020 to USD 226.1 billion by 2021 at a compound annual growth rate (CAGR) of 22.7% In the United States, three cities, Aspen, Kansas and Vermont are already 100% powered by renewable energy sources, and twenty more cities including New York, California and San Diego have pledged to become 100% powered by renewables within the next twenty years.
Renewables will have the fastest growth in the electricity sector, providing almost 30% of power demand in 2023, up from 24% in 2017. During this period, renewables are forecast to meet more than 70% of global electricity generation growth, led by solar PV and followed by wind, hydropower, and bioenergy. Hydropower remains the largest renewable source, meeting 16% of global electricity demand by 2023, followed by wind (6%), solar PV (4%), and bioenergy (3%).
The way we are powering our world is changing and a cleaner energy revolution is already occurring, offering investor’s access to huge capital gateway opportunities.
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