Renewable energy is characterized by the use of resources that can be naturally renewed within a human lifetime. Sources of renewable energy include sunlight, wind, wood residues, waves, and geothermal heat. The use of renewables has grown due to several factors such as concerns about the environmental impacts of conventional fossil fuel sources, growing populations and urbanization, as well as
. Desire for energy security has also spurred the use of renewable energy and distributed energy generation within the electric power distribution system. However, a system that relies wholly on decentralized energy may not yet be possible in most places due to technological shortcomings and antiquated infrastructure. Using large-scale renewable projects for rural areas or developing countries can also benefit these regions, as electricity in these areas is typically of poor quality, inefficiently used, and unreliably supplied. Using renewable energy can improve quality of life and economic production, and benefit the environment.
Renewable energy markets
In early 2000s, only a few companies outside of Europe and North America had implemented policies and targets to increase renewable energy capacity, but a over a decade later, the vast majority of countries around the globe have established their own
renewable targets. China has recently become a world leader in renewable energy and
invests heavily into renewable energy technologies. China and the United States are the
leaders in the consumption of renewable energies worldwide and have both experienced a steady increase in their consumption of renewables. In 2021,
China consumed 11.32 exajoules of renewable energy, an increase of more than 30 percent on comparison with the previous year.
Renewable energy companies
Electricity utilities are increasingly noting the importance of providing renewable energy and
many are investing in these technologies and setting specific renewable goals. Some
leading companies in the sector include NextEra Energy, Iberdrola, and Orsted. The Spanish-based utility
Iberdrola had an installed renewable capacity of over 38 gigawatts in 2021, whereas
Orsted, a Danish company focused on the development and operation of renewable energy sources, reached a renewable capacity of 15.1 gigawatts at the end of 2022.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
