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The renewable-energy industry is the part of the energy industry focusing on new and appropriate renewable energy technologies. Investors worldwide are increasingly paying greater attention to this emerging industry. In many cases, this has translated into rapid renewable energy commercialization and considerable industry expansion. The wind power, solar power and hydroelectric power industries provide good examples of this.
In 2020, the global renewable energy market was valued at $881.7 billion [2] and consumption grew 2.9 EJ.[3] China was the largest contributor to renewable growth, accounting an increment of 1.0 EJ in consumption, followed by the US, Japan, the United Kingdom, India, and Germany. In Europe, renewable consumption incremented 0.7 EJ.[3]
- ^ Renewables 2007 Global Status Report (PDF). REN21. 2008.
- ^ "Renewable Energy Market Size, Share Analysis | Growth Forecast - 2030". Allied Market Research. Retrieved 2021-10-13.
- ^ a b "Renewable energy | Energy economics | Home". bp global. Retrieved 2021-10-14.