President Biden presented a $2 trillion plan to combat climate change in 2020, setting the United States on an “irreversible road” to achieve net-zero carbon emissions by 2050. The Build Back Better initiative of the Biden administration includes tax advantages for investments in the renewable energy industry. The market for renewable energy is expected to grow to USD$1.97 trillion by 2030.
Renewable resources, including wind, water, and sunshine, are used to produce green energy, and investments in the field have surged.
Despite the Covid-19 epidemic, renewable energy showed a surge in demand in 2020, according to the International Energy Agency research. A record USD$755 billion was invested globally in the energy sector in 2021, according to BloombergNEF, with the majority of the money going toward renewable energy sources like wind, solar, and other renewables.
Global Biz Outlook looks at businesses setting the standard for renewable energy. The top ten renewable energy firms globally are listed below.
- NextEra Energy, Inc.
Market Cap: $160.55 Billion
Electricity is produced, transmitted, distributed, and sold by NextEra Energy, Inc. to retail and wholesale clients in North America. The corporation uses nuclear, coal, natural gas, the solar, wind, and other energy sources to produce electricity. The largest utility company in the world, NextEra, was founded and is headquartered in the United States. They are the leading producer of wind and solar energy globally.
- Iberdrola SA
Market Cap: $71.19 billion
Iberdrola is a global provider of electricity with headquarters in Spain. Electricity is produced, distributed, and traded by the business. It specializes in renewable energy sources such as solar photovoltaic, pumped hydro, onshore and offshore wind, and battery storage.
In addition to operating in the United States, United Kingdom, Spain, Mexico, and Brazil, Iberdrola also has a presence abroad in Portugal, Greece, Japan, and Australia.
- Orsted A/S
Market Cap: $52.97 billion
Orsted aims to become carbon neutral in operations and energy production by 2025. With its headquarters in Denmark, the worldwide power firm focuses on offering renewable energy solutions, particularly in the wind power sectors where it builds and manages offshore wind farms.
Operating combined heat and power facilities are its bioenergy and thermal power segments.
- Enphase Energy, Inc.
Market Cap: $24.84 Billion
Enphase Energy, Inc. designs, develops, manufactures, and sells residential energy solutions for the solar photovoltaic industry in the United States and internationally. Founded in 2006, Enphase transformed the solar industry with its revolutionary microinverter technology, turning sunlight into a safe, reliable, resilient, and scalable energy source to power lives. Today, their intelligent microinverters work with virtually every solar panel made, and when paired with their award-winning intelligent battery technology, they engineers one of the industry’s best-performing clean energy systems.
- Siemens Gamesa Renewable Energy SA
Market Cap: $23.24 billion
Wind engineering company Siemens Gamesa is headquartered in Spain. It offers sales of off-grid, onshore, and onshore wind turbines as well as turbine gearboxes. Additionally, it offers upkeep and refurbishment services. The business provides services to clients worldwide and has set up technologies and goods in more than 90 nations.
Siemens recognized the potential to combine engineering and nature 40 years ago, imagining the idea of illuminating cities, supplying energy to enterprises, and purifying the air we breathe simultaneously. Their vision is now being realized by bringing renewable energy to our homes, schools, and hospitals and keeping the world’s largest cities running at total capacity.
- Brookfield Renewable Partners L.P. (BEP)
Market Cap: $19.01 Billion
The company Brookfield Renewable Partners L.P. manages renewable energy generating plants in China, Europe, India, Colombia, and North America. The business uses hydropower, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources to produce electricity. One of the biggest publicly listed, Brookfield Renewable runs pure-play renewable electricity platforms worldwide. North America, South America, Europe, and Asia have their portfolio of hydroelectric, wind, solar, and storage facilities.
- SolarEdge Technologies, Inc.
Market Cap: $16.48 Billion
SolarEdge Technologies, Inc. designs, manufactures, and sells direct current optimized inverter solutions for solar photovoltaic installations globally. The business is divided into five segments: automation machines, solar, energy storage, e-mobility, and critical power. The demand for alternative fuels is rising due to the Ukraine crisis, and the future of the renewable energy sector appears promising.
- Vestas Wind Systems
Market cap: $15.2 billion
Wind energy firm Vestas Wind Systems is based in Denmark. A wind turbine is created, produced, and erected by the company. Vestas Wind Systems’ service segment also provides service contracts, spare parts, and related activities. The corporation has placed wind turbines in numerous nations all over the world.
Every day, 29,000 employees help create a better world by designing, manufacturing, installing, developing, and servicing wind energy and hybrid projects worldwide. In 85 countries, their sustainable energy solutions have helped create a more sustainable energy system and averted 1.5 billion tonnes3 of CO2 from entering the environment.
Plug Power Inc.
Market Cap: $14.91 Billion
Plug Power Inc. offers hydrogen fuel cell systems for mobility, material handling, and stationary power markets in North America and beyond. To create hydrogen liquefication plants, the business declared on February 17, 2022, that it would team up with Atlas Copco Mafi-Trench Company LLC, a pioneer in brazed heat exchangers and cryogenic cold boxes.
First Solar, Inc.
Market Cap: $8.23 Billion
In the United States, France, Japan, Canada, India, Australia, and other countries, First Solar, Inc. offers solar and photovoltaic energy solutions. The business creates, produces, and markets solar modules that turn sunlight into electricity.
First Solar has planned, financed, engineered, built, and operated many of the world’s most extensive grid-connected P.V. power facilities. Their knowledge of the whole solar value chain lowers risk while providing our customers with more dependable, trustworthy, and affordable solutions.
