The U.S. clean energy market is growing fast, driven by incentives, innovation, and demand for renewables, grid modernization, and decarbonization efforts.
WILMINGTON, DE, UNITED STATES, February 11, 2025 /
EINPresswire.com/ -- Allied Market Research published a report, titled, “
U.S. Clean Energy Market by Type (Wind Energy, Solar Energy, Geothermal Energy, Biomass, and Others) and by Application (Residential, Commercial, and Industrial): Country Opportunity Analysis and Industry Forecast 2024–2033: Country Opportunity Analysis and Industry Forecast, 2023-2033”. According to the report, the U.S. Clean Energy Market was valued at $85.7 billion in 2023, and is projected to reach $198.2 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.
Prime determinants of growth
Technological advancements, regulatory support, and evolving business models are driving the clean energy sector's growth in the U.S. Innovations in solar, wind, and energy storage solutions enhance efficiency and scalability, addressing diverse energy needs. Regulatory measures, including tax incentives and renewable energy mandates, encourage investments and foster industry confidence. Additionally, the emergence of "Energy as a Service" (EaaS) enables flexible, service-led energy solutions, driving adoption. However, challenges persist, including high initial capital costs and grid integration complexities, necessitating innovative strategies to ensure sustained market expansion and energy transition success.
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The wind energy segment is expected to lead the trial by 2033.
Based on the type, the wind energy segment held the highest market share, accounting for nearly one-third of clean energy revenue in 2023. This is due to its scalability, reliability, and abundant resource availability. Wind turbines generate electricity on a large scale, offering a cost-effective solution. Geothermal energy, with a projected 9.8% CAGR from 2024 to 2033, is growing rapidly due to its continuous, reliable power generation, minimal environmental impact, and scalability. It offers a sustainable and accessible source of electricity and heat globally.
The industrial segment is expected to lead the trial by 2033.
Based on the application, the industrial segment held the
largest market share in the U.S. clean energy market, accounting for over half of revenue in 2023. This growth is attributed to increased demand for emergency backup power in industrial buildings, which has led to the use of renewable energy sources like wind, solar, geothermal, and biomass. The commercial segment is projected to experience the highest CAGR of 9.1% from 2024 to 2033, driven by infrastructure development in developing countries and a shift towards sustainable power generation.
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Players: -
• Vestas Wind Systems A/S
• Siemens A.G.
• GE Vernova
• NextEra Energy
• First Solar, Inc.
• JA Solar
• First Gen Corporation
• Terra Gen LLC
• Calpine
• DTE Energy
The report provides a detailed analysis of these key players in the U.S. Clean Energy Market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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David Correa
Allied Market Research
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