Unprecedented Investment Levels in Power Continue as the Global Movement Towards Decarbonization Increases
12-Feb-2025
Global
Market Outlook
KB47-01-00-00-00
EG_2025_1291
Renewable energy deployment is experiencing accelerated growth. Global investment in power generation reached a record high of $961.45 billion in 2024, up from $856.14 billion in 2023. The renewable energy sector led this investment surge, with solar photovoltaic (PV) and wind energy accounting for $589.74 billion. Solar and wind energy demand is increasing globally, primarily due to decreasing costs and supportive regulations. They are essential for the energy transition, as their deployment is crucial for achieving higher levels of clean electrification.
In 2024, the United States saw unprecedented growth in clean energy installations. Texas and California demonstrated that substantial solar and battery resources can help alleviate grid challenges during extreme weather events and periods of high electricity demand. In the same year, solar PV and wind energy accounted for 74.4% of China’s power investment mix.
Looking ahead to 2025, China and the United States are expected to maintain their leadership in renewable energy because policymakers, regulators, and system operators increasingly recognize the multiple roles of renewables and will promote their integration into the energy mix.
Author: Lucrecia Gomez
Strategic Imperatives
Top 10 Growth Opportunities
Growth Opportunity 1: Solar PV
Growth Opportunity 2: Offshore Wind
Growth Opportunity 3: Hydro Power
Growth Opportunity 4: Onshore Wind
Growth Opportunity 5: Reshoring of Equipment and Component Supply Chains
Growth Opportunity 6: Hybrid Solutions—Renewables Combined with Storage Systems
Growth Opportunity 7: Rise of PPAs—Alternative Financing Options
Growth Opportunity 8: Decarbonization of Low- temperature Heat
Growth Opportunity 9: Geothermal
Growth Opportunity 10: Advanced and Digital Servicing Propositions
Take the Next Step
Legal Disclaimer
Speak directly with our analytics experts for tailored recommendations.
Recent related Power Generation research
09 Sep 2026 | Global | Market Research
Residential Heat Pumps Industry, Global, 2025–2035
The global residential heat pump (HP) market is forecast to reach 21.2 million units by 2035, up from 11.4 million in 2025. Market definitions are important to the market forecast, and Frost & Sullivan excludes the sale of HPs for air conditioning. Market revenues are forecast to reach $113.79 billi...
09 Sep 2026 | Global | Market Research
Growth Opportunities in the Industrial Heat Pump Industry, Global, 2025–2035
This study analyzes the global industrial heat pump (IHP) market as it undergoes a structural transition—from standalone decarbonization technologies to integrated energy orchestration assets within industrial systems.Covering the 2025 to 2035 period at a global level, the analysis focuses on electr...
03 Sep 2026 | North America | Market Research
Growth Opportunities in the US Battery Energy Storage Industry, 2025–2035
The US battery energy storage sector has emerged as one of the fastest-growing segments of the energy transition, playing an increasingly critical role in supporting grid reliability, renewable energy integration, and electricity market flexibility. As utilities and independent power producers conti...
27 Aug 2026 | Global | Technology Research
Reversible Electrolysis Systems for Grid Integration: Unlocking Flexible Pathways for Renewable Energy Storage
Reversible solid oxide cells (rSOCs) are emerging as a promising technology for flexible energy conversion, long-duration energy storage, and renewable energy integration. By enabling bidirectional conversion between electricity and hydrogen within a single system, rSOCs address key challenges assoc...
14 Aug 2026 | Global | Technology Research
Innovations in Wave Energy Harnessing, Nuclear Fusion, Alkaline Electrolyzers, Thermal Energy Storage, Solid State Batteries, Fuel Cells and Perovskite Solar Cells
This edition of the Energy & Power Systems (EPS) TOE features information about the innovations in Alkaline Electrolysis technology, nuclear fusion, wave energy conversion, thermal energy storage, electrode manufacturing, solid state batteries, perovskite solar cells, among others.The Energy and Pow...
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Market Outlook |
|---|---|
| Author | Lucrecia Gomez |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Distributed energy growth |
| Keyword 2 | Renewable energy growth 2025 |
| Keyword 3 | Digital power management |
| Podcast | No |
| WIP Number | KB47-01-00-00-00 |