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2 clusters · 9 sources · 1 days · First seen · Last updated

Global renewable energy market expansion

Overview

The global renewable energy sector is experiencing significant expansion, particularly in solar power and grid-forming inverter markets. The solar energy market is projected to grow from $492.7 billion in 2025 to $974.7 billion by 2031, with the Asia-Pacific region holding the largest market share. Concurrently, the grid-forming inverter market is expected to increase from $858.53 million in 2025 to approximately $1,730.23 million by 2034.

According to the International Energy Agency (IEA), renewable energy sources—including solar, wind, and battery storage—are projected to become the primary source of electricity production between 2026 and 2027. This transition is driven by rising global energy demand and the pursuit of energy security. While some regions in Asia and Europe have utilized coal to maintain stability during periods of liquefied natural gas (LNG) scarcity and price fluctuations, renewables are increasingly being deployed to diversify electricity supplies and mitigate geopolitical volatility.

Entities

U.S. Congress · Asia-Pacific · Environmental Protection Agency · BCC Research · Fortune Business Insights

Timeline

  1. 26 days ago

    [BUSINESS] 5 sources
    Renewable energy projected to become top electricity source by 2026

    Renewable energy sources like solar and wind are expected to become the primary source of global electricity production between 2026 and 2027, according to the IEA.

  2. 26 days ago

    [TECHNOLOGY] 4 sources
    Renewable energy markets for solar and grid-forming inverters projected to grow

    Global solar energy and grid-forming inverter markets are poised for significant growth through 2034, driven by renewable energy adoption and infrastructure modernization, led by the Asia-Pacific region.

Sources

ecoportal.net · ecoticias.com · energy21.com.mx · evere.co · lavanguardia.com · saurenergy.com · solarquarter.com · successfactors.com · tractionnews.com