Nowadays, one of the sectors with the strongest growth rates is the renewable energy sector, which is being led by a number of businesses. The development of new energy sources received more than $200 billion in investment from renewable energy firms in 2020 alone. This amazing number illustrates the future possibilities of renewable energy.
But which companies are leading this charge? Here, we will explore the top 10 biggest renewable energy companies worldwide and discuss why they have a chance to blow up in the near future.
Top 10 biggest renewable energy companies worldwide
Although the renewable energy sector is still in its infancy, these businesses have already made names for themselves and paved the path for the growth of green energy around the world.
Perhaps, their work will pave the way for a time when renewable energy is more widely available and effective than ever. The top 10 businesses producing renewable energy globally are listed below.
1. General Electric Co.
One of the biggest companies in the world and a pioneer in the development of renewable energy is General Electric Co. (GE). With promises to invest $15 billion over five years in green research and development initiatives, GE has been at the forefront of investing in clean energy technology.
2. Iberdrola SA
The biggest utility firm in the world, Iberdrola SA, has long been at the forefront of renewable energy initiatives. One of the biggest participants in the sector, the company oversees more than 200 GW of electrical capacity across 15 nations. With approximately $6 billion invested in renewable energy in 2020, it is also one of the biggest investors.
3. Constellation Energy Corp.
During the past ten years, Constellation Energy Corp., a significant utility corporation with headquarters in Maryland, has been quickly increasing its expenditures in renewable energy. The company committed more than $1 billion to solar and wind energy projects across the country in 2020.
4. NextEra Energy, Inc.
One of the top firms for renewable energy in the globe is the biggest electric utility in Florida. Over the last ten years, NextEra Energy has made more than $12 billion in wind and solar project investments. In 2020, Fortune Magazine listed it as one of the World’s Most Admired Companies.
5. Vestas Wind Systems A/S
One of the greatest wind energy firms in the world, Vestas Wind Systems, is a Danish company that manufactures wind turbines. The firm has installed more than 60,000 wind turbines throughout the world and is actively developing new technologies that could completely change the way renewable energy is produced.
6. Jinko Solar Holding Co. Ltd.
Leading Chinese solar energy company Jinko Solar Holding Co. Ltd has been rapidly growing its presence in the international market for the past ten years. With a capacity of more than 10 GW, the company manufactures some of the most effective solar panels and modules on the market.
7. Canadian Solar Inc.
Leading solar energy firm Canadian Solar Inc. is based in Canada. The company is currently undergoing rapid expansion as it continues to advance its technology and invest heavily in new projects. It has been in charge of installing more than 6 GW of solar power systems around the world.
8. First Solar Inc.
One of the top solar panel producers in the world, First Solar Inc. is situated in Arizona and has a 14 GW capacity. Over the past ten years, the company has significantly extended its manufacturing capacity and has been at the forefront of the development of solar cells and modules that are more efficient and cost-effective.
9. SolarEdge Technologies
One of the top producers of solar inverters and other related equipment for renewable energy systems is the Israeli company SolarEdge Technologies. The company has had significant growth in the last five years, with a more than 300% increase in revenue.
10. SunPower Corporation
SunPower Corporation, based in San Jose, California, is a pioneer in the solar energy sector. The company is in charge of creating some of the most effective and reasonably priced solar panels on the market as well as creating innovative home and business power solutions.
Why do these companies have the chance to blow up in the near future?
Forward-thinking giants like Vestas Wind Systems, Jinko Solar Holding Co. Ltd, Canadian Solar Inc., First Solar Inc., SolarEdge Technologies Inc., and SunPower Corporation are at the forefront of this sector and have helped pave the way for a cleaner energy future.
By investing in research and development projects, production capacity expansion, and global presence, these companies are setting an example that will help shape the energy landscape for years to come.
These companies are leading the way in renewable energy development for a few reasons. First and foremost, they have invested heavily in green research and development projects, with many of them investing billions of dollars annually.
Additionally, these companies invest heavily in production capacity, as well as developing new technologies that can help increase efficiency and reduce costs. Finally, many of these companies have a strong global presence and are actively involved in the development of international renewable energy projects.
Investment in renewable energy is expected to continue to increase in 2023. Countries worldwide are focused on reducing their carbon emissions and developing more efficient sources of clean energy. These companies are leading the way in this process. Their efforts will majorly impact global energy production for years to come.