Renewable Energy Market Size & Share to Surpass $ 1510.2 Billion by 2028 | Vantage Market Research

WASHINGTON, December 11, 2022 (GLOBE NEWSWIRE)

The Global Renewable Energy Market is valued at USD 910.5 Billion in 2021 and is projected to reach a value of USD 1510.2 Billion by 2028 at a CAGR of 8.8% over the forecast period.

Wind, hydropower, solar, geothermal, and biofuel are just some of the Renewable Energy options available. According to estimates, only 7 % of the world's energy consumption is met by renewables. Eventually, this percentage is projected to rise dramatically. The significant factors that are expected to foster the growth of the Global Renewable Energy Market are the increasing public and private efforts to curb carbon emissions, the increasing adoption of clean and green energy by consumers, and the growing awareness of the harmful effects of fossil fuels on the environment. In addition, during the projected period, demand for Renewable Energy sources, including geothermal energy and solar energy, is expected to rise in response to the increasing industrialization and urbanization in emerging countries around the world.

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