United States Renewable Energy Market Overview, 2030

The United States renewable energy market has seen notable expansion, evolving the nation into one of the largest producers and consumers of clean energy worldwide. The shift towards renewable energy sources, including solar, wind, hydropower, and biomass, is propelled by a mix of environmental concerns, energy security, and economic opportunities. In recent years, renewable energy has emerged as an increasingly vital element of the country’s energy portfolio, driven by technological progress, decreasing costs, and government initiatives endorsing clean energy. Historically, the United States renewable energy market started to take form in the late 20th century, as environmental issues regarding fossil fuels and their effects on climate change gained traction. During the 1970s, amid the oil crisis, the United States began to investigate alternative energy sources, resulting in initial investments in wind and solar power. Nevertheless, it was not until the early 2000s, with progress in solar photovoltaics and wind turbine technology, that the renewable energy industry started to scale up significantly. By the mid-2000s, federal and state measures, such as tax credits and renewable portfolio standards, further propelled the expansion of clean energy. The 2009 American Recovery and Reinvestment Act (ARRA) played an essential role in enhancing the renewable energy sector by offering considerable investments in clean energy initiatives. In the aftermath, the United States experienced an impressive surge in solar and wind energy installations, which thrived thanks to decreasing technology costs, augmented private sector funding, and supportive state measures. By 2020, the United States had established itself as a global frontrunner in wind energy capacity and was also achieving important advancements in solar power. As of now, the United States renewable energy market continues to expand, with an emphasis on decarbonizing the energy grid, enhancing energy storage abilities, and accomplishing net-zero emissions targets by 2050.

According to the research report, ""United States Renewable Energy Market Overview, 2030,"" published by Bonafide Research, the United States renewable energy market is anticipated to grow at more than 8.86% CAGR from 2025 to 2030. The renewable energy sector in the United States has progressed considerably since its beginnings. In the early 20th century, hydropower was the primary renewable electricity source, primarily utilized for large construction projects like dams. Nevertheless, as environmental issues became more pressing, attention turned towards more sustainable alternatives. During the late 20th and early 21st centuries, solar and wind energy started to rise as the main contributors, propelled by improvements in solar photovoltaic (PV) technology and wind turbine efficiency that encouraged wider adoption. Geothermal and biomass energy also received more attention, particularly in regions rich in resources. As installation costs decrease and efficiency improves, solar energy has established itself as a leading renewable resource, especially in residential, commercial, and utility-sized projects. The United States ranks among the top producers of wind energy, especially in the Midwest and Texas, providing substantial growth opportunities for both onshore and offshore wind initiatives. With the rise of intermittent renewable resources like wind and solar, the demand for advanced energy storage solutions, such as batteries and pumped hydro storage, is increasing. As the acceptance of EVs grows, renewable energy is crucial in lowering emissions, creating opportunities in charging infrastructure and clean energy integration. The advancement of renewable energy in the United States has been facilitated through federal and state incentives such as tax credits, subsidies, and renewable portfolio standards. The Investment Tax Credit (ITC) and Production Tax Credit (PTC) have motivated solar and wind initiatives, respectively. Promotion strategies typically emphasize environmental advantages, energy self-sufficiency, and financial savings.

The renewable energy market within the United States is varied, featuring multiple types of renewable energy sources aiding the nation’s shift toward cleaner, sustainable energy options. The primary segments consist of hydropower, wind power, solar energy, bioenergy, and geothermal. Hydropower has traditionally been the predominant renewable energy source in the United States It produces electricity by capturing the energy of moving water, mainly via dams and reservoirs. While the expansion of hydropower has decelerated in recent years, it continues to comprise a substantial portion of renewable electricity generation. As of 2023, hydropower contributes approximately 7-8% of the overall electricity generation in the United States Wind power ranks among the fastest-growing renewable energy sources in the United States, notably in the Midwest and Texas. The United States has emerged as the second-largest producer of wind energy worldwide, with wind farms supplying around 9% of total electricity generation. Offshore wind is anticipated to further enhance growth in this sector, with large projects in the Northeast and East Coast gaining traction. Solar energy represents another swiftly growing area, propelled by decreasing costs, enhanced technology, and robust government incentives. The United States hosts some of the largest solar power plants globally, with California at the forefront. Solar energy constitutes roughly 3-4% of United States electricity generation and is projected to continue its rapid growth in both residential and utility-scale projects. Bioenergy, comprising biomass and biofuels, is vital to the United States renewable market, especially in transportation and heating. It is mainly obtained from organic materials like wood, agricultural waste, and refuse. The United States stands as a major producer of ethanol and biodiesel, greatly contributing to renewable fuel production. Geothermal energy, derived from the heat at the Earth’s core, is chiefly utilized for electricity generation and direct heating. The United States leads the world in geothermal electricity output, with California being a significant state for geothermal facilities.

The renewable energy market in the United States is divided by end-users, with industrial, residential, and commercial sectors each playing an essential role in the shift to sustainable energy. Each of these sectors has distinct characteristics and contributes differently to the overall uptake of renewable energy. The industrial sector ranks as one of the largest consumers of renewable energy in the U. S. because of the substantial energy requirements of manufacturing, production operations, and heavy industries. Renewable sources such as wind, solar, and biomass are increasingly adopted by industrial entities to decrease carbon emissions and energy expenses. Large-scale industries, including steel, cement, and chemicals, frequently employ renewable energy for both electricity generation and process heating. Moreover, as corporate sustainability objectives grow more stringent, numerous industrial firms are investing significantly in on-site renewable installations like solar panels and offshore wind power. The industrial sector is further motivated by renewable energy credits and power purchase agreements (PPAs) that ensure long-term access to budget-friendly clean energy. The residential sector has witnessed significant growth in the uptake of renewable energy, especially through solar energy. Homeowners are progressively installing solar panels on rooftops to cut down on electricity expenses, enhance energy independence, and contribute to sustainability initiatives. Federal and state incentives, such as the Investment Tax Credit (ITC), have made residential solar more accessible. Additionally, the advancement of battery storage solutions has enabled homeowners to store surplus energy for use during peak demand periods or outages. The residential market also includes small-scale wind and biomass systems, although solar continues to dominate. The commercial sector, which encompasses offices, retail businesses, educational institutions, and healthcare facilities, is also embracing renewable energy solutions to lower operating costs, boost sustainability, and enhance their environmental footprint. Commercial buildings frequently invest in solar arrays and energy-efficient technologies to decrease their electricity expenses.


Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Renewable Energy Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Hydropower
• Wind Power
• Solar Energy
• Bioenergy
• Geothermal
• Others

By End-User
• Industrial
• Residential
• Commercial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.