The United States renewable energy market size is projected to grow at a CAGR of 10.10% between 2026 and 2035.
Base Year
Historical Period
Forecast Period
In 2022, the United States generated a total of 102.92 quadrillion Btu of energy.
Hydropower and wind power accounted for 20% of US utility-scale electricity generation in 2020, with a share of 7.3% and 8.4%.
In 2021, renewable energy sources, such as wind, hydroelectric, solar, biomass, and geothermal energy, produced a record-high 834 billion kWh of electricity in the US, accounting for about 21% of total electricity generation.
Compound Annual Growth Rate
10.1%
2026-2035
*this image is indicative*
With rising investments in the solar, wind, and hydroelectric power infrastructure, demand for renewable energy in the United States is expected to increase in the forecast period. In January 2024, the city of Charlotte commenced the construction of a 537-acre solar farm in Denton, North Carolina.
In addition, renewable energy sources such as solar and wind have become increasingly cost-competitive, making them economically viable alternatives to traditional fossil fuels. The cost of electricity from solar PV and onshore wind has fallen by 89% and 69% between 2010 and 2022, which has promoted the renewable energy market development in US.
Furthermore, US government has implemented several incentives to support deployment of renewable energy, which have contributed to the United States renewable energy market growth. These incentives include Regional Greenhouse Gas Initiative (RGGI), the Renewable Portfolio Standards (RPS), Clean Energy Standard (CES), the Zero Emission Vehicle (ZEV) program, and the Transportation and Climate Initiative (TCI).
Additionally, the emerging market for green hydrogen over traditional hydrogen presents opportunities for market growth as green hydrogen can help reduce greenhouse gas emissions in the transportation sector of the US, which is responsible for 29% of global greenhouse gas emissions. In addition, the US government has announced investments in clean hydrogen hubs, which will support the production, storage, delivery, and consumption of green hydrogen. For instance, Florida Power & Light constructed a 20 MW green hydrogen plant in 2023.
According to United States renewable energy market analysis, hydropower is one of the most traditional forms of renewable energy. The US had more than 2,200 hydroelectric power plants, with a total installed capacity of 80.3 gigawatts (GW) as of 2019. The largest hydroelectric power plant in the U.S. is the Grand Coulee Dam in Washington, with a capacity of 6.8 GW. Wind energy segment also holds a substantial market share due to expansion of onshore and offshore wind farms in US. For instance, the construction of the first large-scale offshore wind project, Vineyard Wind was started in 2021 which can further drive the market growth in future.
United States Renewable Energy Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
Market Breakup by Type
Market Breakup by End User
Market Breakup by Region
Market leaders are engaged in constructing new power plants to cater to high demand for renewable energy and electricity.
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The United States renewable energy market value is projected to grow at a CAGR of 10.10% between 2026 and 2035.
Renewable energy is energy that is collected from resources that are naturally replenished, such as sunlight, wind, rain, tides, waves, and geothermal heat.
The major market driver includes declining costs of solar and wind energy, strong government support, rising consumer awareness, technological advancements, and growing concerns about climate change and pollution.
Key trends aiding the market expansion are innovations in photovoltaics and big data/AI, increasing investment in solar and wind projects, and the evolving balance between decarbonisation and security of energy supply.
Major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Renewable energy can be sourced through hydro, solar, and wind, among others.
Based on end users, the market is segmented into residential, commercial, and industrial.
Key players in the market are Siemens AG, NextEra Energy, Inc. General Electric Co., Sunrun, Inc., Cypress Creek Renewables LLC, Vestas Wind Systems A/S, Trina Solar Co., Ltd, Ecoplexus, Inc., Recurrent Energy Inc., and Good Energy, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Type |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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