Key Insight

Renewable energy is collected from sources that can be replenished on a reasonable timescale. Renewables include wind, tides, geothermal heat, and sunlight.

Why It Matters

Last year, 400 global corporations committed to climate protection and sustainability goals, while 63 promised to convert their energy use to 100% renewables.

Examples

More than 100 cities across the globe report that as much as 70% of their energy production now comes from renewables, and at least 40 cities and 158 companies committed to dial that up to 100%. Hundreds more—both cities and countries— pledged to move to renewable energy production. Even oil-rich Saudi Arabia is working on a detailed, long-term plan to help diversify its economy and move away from oil.

What’s Next

Renewables will take on greater importance in the coming decade. The International Energy Agency projects renewables will account for about 40% of energy distributed through the global power grid by 2040. In the next five years, we should see faster growth in green tech than ever seen previously.

Impact

The amount of clean, renewable energy bought by some of the world’s largest companies has tripled since 2018. The U.S. Energy Information Administration says that renewables are “the fastest growing source of electricity generation.”

Watchlist

Acciona Energia, Alterra Power, Atlantica Yield, Avangrid Renewables, Berkshire Hathaway Energy, Brookfield Renewable Partners, Enphase Energy, First Solar, GE Energy, International Energy Agency, Invenergy, MidAmerican Energy Anemos Energy Corporation, NextEra Energy, Ormat Technologies, Orsted, Pattern Energy, Siemens, SolarEdge, TerraForm Power, Tesla, U.S. Department of Energy, U.S. Energy Information Administration.