DUBLIN--(BUSINESS WIRE)--The "United States Renewable Energy Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The renewable energy market in the United States is expected to grow at a CAGR of more than 6% during the forecast period of 2020-2025.
Factors such as supportive government policies and efforts to meet the rising power demand using renewable energy sources are expected to be significant contributors to the growth of the market. With the government's commitment in more than 50 cities for 100% renewable and a contribution from major universities and colleges for 100% renewable campus to reduce carbon emissions, the share of renewable is expected to grow significantly.
The declining costs of renewable technologies are becoming competitive with fossil fuel sources, and additional subsidies on renewables are driving the renewable energy market further. On the other hand, factors like a booming natural gas market that is competing with renewable energy and the limited energy supply from variable renewable energy sources are few restraining factors for the United States renewable energy market.
Solar energy in the United States is one of the fastest-growing renewable power sources, with a hold of 2.53% in total electricity generation in 2018. A significant decline in the price of solar power installations has led to the rapid surge in demand for solar panels.
With the resolution signed by more than 250 mayors of different cities in the United States conference of mayors in 2017, the rapid transition from fossil to renewable is expected in many cities, and this, in turn, is likely to create an ample amount of opportunities for renewable energy companies shortly.
With more than 105 GW of installed capacity of wind energy in 2020, it is responsible for 21% of renewable power generation, making the United States one of the major players in the wind energy market.
Key Market Trends
Solar Energy to Witness a Significant Growth
In 2019, according to the Solar Energy Industries Association of the United States, more than 9500 major solar projects (including solar photovoltaic and concentrated solar power (CSP)) were operational or were under construction and development phase. These projects collectively represent a massive 150 GW of solar capacity.
Competitive Landscape
The US renewable energy market is partially fragmented. Some of the major companies operating in the market include Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, General Electric Company, First Solar Inc., and Sunrun Inc.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Installed Capacity and Forecast in GW, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Source
5.1.1 Wind
5.1.2 Solar
5.1.3 Biomass
5.1.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 General Electric Company
6.3.2 First Solar Inc
6.3.3 Sunrun Inc.
6.3.4 NextEra Energy Inc
6.3.5 Vestas Wind Systems A/S
6.3.6 Mitsubishi Corp.
6.3.7 Siemens Gamesa Renewable Energy SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/kcbdba
