United States Renewable Energy Market Introduction and Overview
According to SPER Market Research, the United States Renewable Energy Market is estimated to reach USD XX billion by 2033 with a CAGR of 10.26%.
The report includes an in-depth analysis of the United States Renewable Energy Market, including market size and trends, product mix, applications, and supplier analysis. Renewable energy comes from naturally occurring sources that are never-ending and constantly replenished. Solar radiation, wind, water (hydropower), biomass, and geothermal heat are some of these sources. Renewable energy technologies use these natural processes to generate electricity, heat, and transportation fuels with less of an environmental impact than fossil fuels, which are limited and emit harmful greenhouse gases when burned. This helps to promote sustainable development and lower carbon emissions.
March 2023; The US Energy Information Administration declared that in 2022, the nation's total energy production from renewable sources overtook coal for the first time. In 2022, renewable energy also surpassed nuclear generation.
Market Opportunities and Challenges
Opportunities- Leading the way in the revolutionary transition to sustainable and clean energy solutions is the US renewable energy sector. With a wide range of energy sources including solar, wind, hydro, geothermal, biomass, tidal, and wave energy, the market is essential to the country's search for environmentally suitable substitutes. In addition, the United States has a wide range of applications for renewable energy that support market growth. These include space exploration, military operations, transportation, street lighting, heating and cooling, desalination, water treatment, and irrigation. Furthermore, renewable energy is a superior alternative to conventional energy sources due to its abundance, sustainability, affordability, and lower carbon footprint.
Challenges- Uncertainty in regulations and policies is one of the many obstacles facing the US renewable energy market, which can make long-term investment and planning difficult. It is technically and logistically challenging to integrate renewable energy into the current grid infrastructure, necessitating major developments in grid management systems. Furthermore, the development and implementation of effective energy storage technologies is required due to the intermittent nature of renewable energy sources such as wind and solar power. Significant obstacles for renewable energy initiatives include high initial capital expenditures and competition from well-established fossil fuel businesses. Furthermore, finding acceptable locations for significant renewable energy projects can be difficult due to opposition from nearby people and environmental concerns.
Market Competitive Landscape
These companies provide a wide range of services, such as energy management, cleaning, maintenance, and security. Due to the demand for innovation and technological integration, the industry is extremely competitive. Businesses are using IoT, AI, and data analytics to offer more advanced, effective services. The key players of this market are Brookfield Renewable Partners L.P, Duke Energy Corporation, Enphase Energy, Inc, First Solar, Inc, General Electric (Ge) Renewable Energy, Invenergy Llc, Nextera Energy, Inc, Ormat Technologies, Inc, Siemens Gamesa Renewable Energy, Sunpower Corporation, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Energy Source, By Technology, By End User
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| Regions covered | Western, Southern, Northeast, Midwest
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| Companies Covered | Brookfield Renewable Partners L.P, Duke Energy Corporation, Enphase Energy, Inc, First Solar Inc, General Electric (Ge) Renewable Energy, Invenergy Llc, Nextera Energy, Inc, Ormat Technologies, Inc, Siemens Gamesa Renewable Energy, Sunpower Corporation.
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COVID-19 Impact on United States Renewable Energy Market
The COVID-19 outbreak affected the US renewable energy economy in a variety of ways. At the beginning, the industry experienced severe disruptions because of labour shortages, supply chain breakdowns, and project schedule delays. A brief decline in demand and funding for new projects was also brought on by economic slowdown and investment anxiety. But the epidemic also made clear how crucial robust and sustainable energy systems are, which sparked a resurgence of interest in and support for renewable energy sources. While the long-term trend towards decarbonisation and clean energy gathered momentum, certain negative consequences were lessened by government stimulus packages and policy support.
Key Target Audience:
- Utility companies and energy providers
- Government and regulatory agencies
- Residential consumers and homeowners
- Commercial businesses and enterprises
- Industrial manufacturers and large-scale energy users
- Renewable energy project developers
- Investors and financial institutions
Our in-depth analysis of the United States Renewable Energy Market includes the following segments:
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By Energy Source:
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Solar Energy
Wind Energy
Hydropower
Biomass Energy
Geothermal Energy
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By Technology:
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Photovoltaic Systems (PV)
Concentrated Solar Power (CSP)
Onshore Wind
Offshore Wind
Small Hydropower
Large Hydropower
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By End User:
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Residential Consumers
Commercial Enterprises
Industrial Users
Government and Municipalities
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Key Topics Covered in the Report:
- United States Renewable Energy Market Size (FY’2024-FY’2033)
- Overview of United States Renewable Energy Market
- Segmentation of United States Renewable Energy Market By Energy Source (Solar Energy, Wind Energy, Hydropower, Biomass Energy, Geothermal Energy)
- Segmentation of United States Renewable Energy Market By Technology (Photovoltaic Systems (PV), Concentrated Solar Power (CSP), Onshore Wind, Offshore Wind, Small Hydropower, Large Hydropower)
- Segmentation of United States Renewable Energy Market By End User (Residential Consumers, Commercial Enterprises, Industrial Users, Government and Municipalities)
- Statistical Snap of United States Renewable Energy Market
- Expansion Analysis of United States Renewable Energy Market
- Problems and Obstacles in United States Renewable Energy Market
- Competitive Landscape in the United States Renewable Energy Market
- Impact of COVID-19 and Demonetization on United States Renewable Energy Market
- Details on Current Investment in United States Renewable Energy Market
- Competitive Analysis of United States Renewable Energy Market
- Prominent Players in the United States Renewable Energy Market
- SWOT Analysis of United States Renewable Energy Market
- United States Renewable Energy Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Renewable Energy Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Renewable Energy Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Renewable Energy Market
7. United States Renewable Energy Market, By Energy Source (USD Million) 2020-2033
7.1. United States Renewable Energy Market Size, Share and Forecast, By Energy Source, 2020-2026
7.2. United States Renewable Energy Market Size, Share and Forecast, By Energy Source, 2027-2033
7.3. Solar Energy
7.4. Wind Energy
7.5. Hydropower
7.6. Biomass Energy
7.7. Geothermal Energy
8. United States Renewable Energy Market, By Technology (USD Million) 2020-2033
8.1. United States Renewable Energy Market Size, Share and Forecast, By Technology, 2020-2026
8.2. United States Renewable Energy Market Size, Share and Forecast, By Technology, 2027-2033
8.3. Photovoltaic Systems (PV)
8.4. Concentrated Solar Power (CSP)
8.5. Onshore Wind
8.6. Offshore Wind
8.7. Small Hydropower
8.8. Large Hydropower
9. United States Renewable Energy Market, By End User (USD Million) 2020-2033
9.1. United States Renewable Energy Market Size, Share and Forecast, By End User, 2020-2026
9.2. United States Renewable Energy Market Size, Share and Forecast, By End User, 2027-2033
9.3. Residential Consumers
9.4. Commercial Enterprises
9.5. Industrial Users
9.6. Government and Municipalities
10. United States Renewable Energy Market Forecast, 2020-2033 (USD Million)
10.1. United States Renewable Energy Market Size and Market Share
11. United States Renewable Energy Market, By Region, 2020-2033 (USD Million)
11.1. United States Renewable Energy Market Size and Market Share By Region (2020-2026)
11.2. United States Renewable Energy Market Size and Market Share By Region (2027-2033)
11.2.1. Western
11.2.2. Southern
11.2.3. Northeast
11.2.4. Midwest
12. Company Profile
12.1. BROOKFIELD RENEWABLE PARTNERS L.P.
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. DUKE ENERGY CORPORATION
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. ENPHASE ENERGY, INC.
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. FIRST SOLAR, INC.
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. GENERAL ELECTRIC (GE) RENEWABLE ENERGY
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. INVENERGY LLC
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. NEXTERA ENERGY, INC.
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. ORMAT TECHNOLOGIES, INC.
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. SIEMENS GAMESA RENEWABLE ENERGY
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. SUNPOWER CORPORATION
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. OTHERS
13. Conclusion
14. List of Abbreviations
15. Reference Links