Market Size of United States Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 434.54 gigawatt |
| Market Volume (2029) | 700.15 gigawatt |
| CAGR (2024 - 2029) | 10.01 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Renewable Energy Market Analysis
The United States Renewable Energy Market size is estimated at 434.54 gigawatt in 2024, and is expected to reach 700.15 gigawatt by 2029, growing at a CAGR of 10.01% during the forecast period (2024-2029).
The outbreak of COVID-19 negatively impacted the market. Currently, the market has reached pre-pandemic levels.
- Factors such as increasing solar and wind energy installations over the period, supportive government policies, declining solar panel costs, and additional subsidies on renewables are expected to drive the renewable energy market during the forecast period.
- However, factors like a booming natural gas market that is competing with renewable energy and the limited energy supply from variable renewable energy sources are a few restraining factors for the United States renewable energy market during the forecast period.
- The US government announced the framework to invest USD 555 billion in funding for clean energy programs. This is expected to act as an opportunity for the renewable energy market in the country.
