North America Renewable Energy Market Size, Share, Trends and Forecasts 2030

INTRODUCTION

North America has some of the most abundant wind, solar, geothermal, hydro, and biomass resources on the planet. In addition, the region offers a thriving culture of innovation and entrepreneurship, as well as ample funding options and a highly qualified workforce.

For large-scale power generation, the continent relies on renewable energy, mainly hydropower.

NORTH AMERICA RENEWABLE ENERGY MARKET SIZE AND FORECAST

The North America Renewable Energy Market accounted for $XX Billion in 2024 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

MARKET DYNAMICS

Brookfield Renewable has acquired clean energy developer Urban Grid and its pipeline of high-quality utility-scale solar and energy storage projects in the United States. The acquisition nearly triples Brookfield Renewable's existing development pipeline in the United States, making it one of the country's largest clean energy developers. In appreciation of its considerable market presence, Urban Grid will keep its brand identity.

SunPower Corp., a leading solar technology and energy services company, has announced the launch of its Virtual Power Plant (VPP) solution, which allows SunVault energy storage customers to be compensated for allowing the utility to use stored energy during peak demand, resulting in a more stable power grid in their community.

Canadian Solar Inc. has announced the signing of two 10-year power purchase agreements (PPAs) with Axpo Italia for the purchase of electricity generated by two solar power facilities now under construction. Axpo Italia is a highly stable and bankable renewables generator counterparty and one of the leading market operators in the free energy market in Italy.

Growth Drivers For The North America Renewable Energy Market

• Government Policy Support and Climate Commitments
  Robust policy frameworks, including feed-in tariffs, renewable purchase obligations (RPOs), and green energy subsidies, are propelling renewable energy investments in North America. Climate accords and net-zero commitments further strengthen the demand for clean energy.
• Declining Costs of Renewable Technologies
  The cost of generating electricity from solar, wind, and other renewables has declined significantly in North America due to economies of scale, technological improvements, and enhanced manufacturing efficiencies. This is making renewables increasingly competitive with fossil fuels.
• Growing Demand for Energy Security and Independence
  The geopolitical and economic risks associated with importing fossil fuels have led North America to prioritize renewable sources as a means to ensure domestic energy resilience and reduce dependency on foreign energy supplies.
• Corporate Sustainability Initiatives
  Large corporations operating in North America are committing to 100% renewable energy sourcing through Power Purchase Agreements (PPAs) and green energy procurement strategies, creating additional demand for renewable projects.
• Grid Modernization and Decentralized Energy Models
  The adoption of smart grids, energy storage solutions, and distributed energy resources is enabling better integration of renewable energy into North America’s power systems, especially in rural and underserved areas.

Market Trends In The North America Renewable Energy Market

• Rise of Hybrid Renewable Systems
  Hybrid projects combining solar, wind, and storage are gaining traction in North America as they offer greater energy reliability and reduce intermittency challenges associated with individual technologies.
• Offshore Wind Expansion
  Coastal and island regions in North America are exploring offshore wind installations due to their higher capacity factors and less land-use impact. This segment is expected to see major investments and policy support in the near term.
• Decentralized Solar Installations and Rooftop PV Growth
  Residential and commercial rooftop solar projects are on the rise across urban centers in North America. The availability of net metering and financing options is encouraging wider adoption among small-scale consumers.
• Green Hydrogen and Renewable Integration
  Green hydrogen produced from renewable electricity is emerging as a promising vector for decarbonizing industries such as steel, cement, and transportation in North America. Pilot projects and public-private partnerships are already underway.
• Investment in Energy Storage Infrastructure
  As renewable capacity expands, the need for reliable energy storage becomes critical. North America is witnessing increased investment in battery storage systems to balance the grid and ensure uninterrupted supply.

Challenges In The North America Renewable Energy Market

• Grid Integration and Infrastructure Constraints
  The rapid growth of variable renewable energy sources poses challenges for grid stability and transmission capacity. North America faces the task of upgrading and expanding its grid infrastructure to accommodate new projects.
• Regulatory and Permitting Delays
  Complex approval processes, land acquisition issues, and inconsistent policy enforcement can delay project execution in North America, especially for utility-scale installations.
• Financing Barriers and Investment Risks
  While interest in renewable energy is high, project financing in North America can be hampered by credit risks, high capital costs, and uncertainty in returns, particularly in emerging markets or rural regions.
• Land and Resource Conflicts
  Competition for land and natural resources, particularly in densely populated or ecologically sensitive regions of North America, can lead to opposition and delay in renewable energy projects.
• Intermittency and Reliability Issues
  Solar and wind resources are weather-dependent, and without adequate storage or hybrid solutions, this can create reliability issues in North America’s power supply, especially during peak demand.

North America Renewable Energy Market Size And Forecast

The North America Renewable Energy Market is projected to grow at a compound annual growth rate (CAGR) of approximately 9% to 12% between 2024 and 2030. Solar and wind power are expected to dominate new capacity additions, followed by emerging segments like green hydrogen and energy storage. By 2030, renewable energy could account for over 50% of North America’s total energy mix, marking a substantial shift from conventional energy dependency.

Future Outlook

The future of renewable energy in North America is bright, driven by aggressive climate targets, rising investor interest, and evolving consumer preferences. National and subnational governments are expected to continue incentivizing large-scale and decentralized renewable projects through policy tools and market-based mechanisms.

Emerging trends such as digitalization of the energy sector, AI-based energy forecasting, and energy-as-a-service (EaaS) models will play a key role in optimizing renewable energy usage. Technological breakthroughs in battery storage, floating solar, and offshore wind will open new frontiers for deployment.

With a strong push toward indigenization and local manufacturing, North America is set to become a leading regional hub for renewable energy innovation, job creation, and sustainable development. Strategic collaborations between public and private stakeholders will be essential to overcome remaining bottlenecks and ensure inclusive energy access across all segments of society.

COMPANY PROFILE

• Brookfield Renewable Partners LP
• Renewable Energy Group Inc.
• SunPower Corp.
• Invenergy
• Canadian Solar Inc. 
• First Solar Inc.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost perNorth America Renewable Energy Marketright now and how will it change in the next 5-6 years?
2. Average cost to set up aRenewable Energy Market inNorth America?
3. How manyNorth America Renewable Energy Marketsare manufactured per annum globally? Who are the sub-component suppliers in different regions?
4. What is happening in the overall public, globally?
5. Cost breakup of a North America Renewable Energy Market and key vendor selection criteria
6. Where is theNorth America Renewable Energy Marketmanufactured? What is the average margin per equipment?
7. Market share ofNorth America Renewable Energy Marketmanufacturers and their upcoming products
8. The most important planned North America Renewable Energy Marketin next 2 years
9. Details on network of majorNorth America Renewable Energy Marketand pricing plans
10. Cost advantage for OEMs who manufactureNorth America Renewable Energy Marketin-house
11. 5 key predictions for next 5 years inNorth America Renewable Energy Market
12. Average B-2-BNorth America Renewable Energy Marketprice in all segments
13. Latest trends inNorth America Renewable Energy Market, by every market segment
14. The market size (both volume and value) ofNorth America Renewable Energy Marketin 2024-2030 and every year in between?
15. Global production breakup ofNorth America Renewable Energy Market, by suppliers and their OEM relationship