21 Countries Expected to Dominate the Global Renewable Energy Market

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As the world aims for a greener planet, some countries have emerged as true trailblazers in renewable energy. These nations are generating power from sustainable sources like wind, solar, and hydro, pledging ambitious goals, signing international agreements, and implementing innovative initiatives to lead the way. Here are 22 countries expected to dominate the renewable energy scene.

China

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China is the world’s top producer of renewable energy, with an impressive 1,200 gigawatts of installed capacity by 2023, about half of which comes from solar and wind energy (IEA). In addition to massive wind farms and the famous “Great Wall of Solar” in the Tengger Desert, China has invested in floating solar farms, like those in Anhui province, to utilize otherwise unproductive land. In 2021, China pledged to achieve carbon neutrality by 2060, aiming to peak carbon emissions before 2030. As a part of the Paris Agreement, it’s committed to expanding green energy. It has partnered with countries under its Belt and Road Initiative to help build renewable infrastructure across Asia and Africa.

Germany

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Germany’s Energiewende (“energy transition”) policy set the groundwork for its impressive renewable energy infrastructure, and by 2022, nearly 50% of Germany’s power will come from renewable sources, mainly wind and solar. Germany aims for 80% renewable electricity by 2030, with plans to phase out coal by 2038. At COP26, Germany committed to supporting global green energy initiatives, including a $10 billion package to help developing countries transition to renewables. Germany’s Nordex wind turbines and Siemens solar technologies are globally recognized for contributing to sustainable energy.

India

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India has set ambitious targets-from attaining 500 GW of renewable energy capacity by 2030, with over 100 GW already in place by 2023-by commissioning the world’s largest solar farm, the Bhadla Solar Park in Rajasthan, which provides enough power to light up hundreds of thousands of homes, to international partnerships in renewable energy, such as the ISA, co-founded with France. This commitment of India at COP26 to carbon neutrality in the year 2070 is what it undertakes for a sustainable new world.

Brazil

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Brazil generates more than 85% of its electricity from renewable sources, mainly hydropower, through the Itaipu Dam, which supplies much of southern Brazil and Paraguay with electricity. The country plans to reach net zero by 2050 and has diversified its energy portfolio with gigantic investments in wind and solar. The country is also developing offshore wind projects and advanced biofuels as it gears up to enhance its renewable portfolio, which aligns with the goals of the Paris Agreement.

Japan

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Japan is rapidly leading in renewable energy and aims to have 36-38% renewable energy sources by 2030 in the form of solar, wind, and geothermal sources. Japan has developed floating solar farms, such as Yamakura Dam, which depicts its innovative approach to tackling limited land space. The country signed onto the 2021 COP26 methane pledge and is heavily investing in offshore wind, with a project planned to generate 10 GW by 2030.

Australia

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Australia has ideal weather for solar power in a country that is sunny and has more than 3 million solar rooftops in the country. In 2030, Australia will have attained 50% renewable energy thanks to considerable investments in wind and hydro projects. And a pumped hydro project, Snowy 2.0, is the biggest in the world. It becomes a natural battery for excess solar and wind energy storage. Australia also established membership in the UN Race to Zero campaign that committed to going net zero by 2050.

United Kingdom

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The UK is already a leader in offshore wind energy. It produces 30% of its electricity from wind and is on its way to achieving 40 GW of offshore wind by 2030. Its world-leading Hornsea Project One, the largest offshore wind farm, powers over a million homes. Through the Ten Point Plan for a Green Industrial Revolution, the UK also plans to transition to 100% renewable electricity by 2035. As a COP26 host, it led the global commitments on zero-emission vehicles and strengthened climate financing.

South Korea

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The South Korean government has introduced the Green New Deal since 2020. This helped it commit to reaching carbon neutrality by 2050. South Korea has already invested in some of the world’s largest floating solar farms, including Hapcheon Dam, and South Korea is one of the recent signatories to the Global Methane Pledge at COP26, committing itself to cutting greenhouse gasses by 30% by 2030 while continuing expansion of offshore wind and solar capacities.

Spain

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Spain is set to achieve 100% renewable electricity by 2050, and solar and wind farms will cover nearly 50% of energy needs by 2022. The southern parts of Spain present favorable conditions for generating sun power, while wind turbines are readily visible along the northern coasts of Spain. The commitment to a greener future is reflected in the leadership of the European Green Deal, not only in smart grids and energy storage systems but also in industrial-scale renewable energy by the country.

Denmark

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Denmark is the leader in wind energy, with almost half its electricity needs covered by this source. The Danish government is committed to being fossil-free by 2050 with a specific target of producing all electricity from renewable sources by 2030. The Middelgrunden Offshore Wind Farm is one such icon off Copenhagen, visible from there and serving as a reminder of Denmark’s commitment to clean energy. That was to be the government’s “Energy Island” – to make the North Sea a hub of renewable power, sharing energy with neighboring countries.

France

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France will lead the energy race with 40% renewable electricity in 2030, along with solar and wind energy, through the EDF Renewables initiative, which is increasing domestic and international renewable projects, including African solar energy. Much in line with the European Union’s Green Deal, it explores the possibilities of green hydrogen as a future fuel to further its sustainability goals.

Saudi Arabia

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Saudi Arabia’s Vision 2030 calls for half of its power generation to come from renewable sources by 2030. Major projects like the Al Shuaiba solar farm clearly signal the kingdom’s shift away from oil. Saudi Arabia has agreed to reach net zero by 2060 and will play a major role in that by using green hydrogen.

Sweden

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Sweden produces around 60% of its energy from renewable sources, mainly hydro and wind, and is moving toward carbon neutrality by 2045. Moreover, Sweden is also a leader in energy storage solutions, with initiatives like Northvolt, which produces green lithium-ion batteries. Its commitment to the Paris Agreement indicates its intention to increase renewables further while facilitating its peers worldwide in their quest for clean energy.

Norway

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Norway generates almost 100% of its electricity from hydropower and aims to become completely carbon-neutral by 2030. With its extensive use of electric vehicles and investments in green hydrogen, Norway also sets a shining example of renewable transport. This country has now set an example as the Longship project is a full-scale carbon capture and storage initiative that is regarded as a highly advanced approach to cutting emissions.

Canada

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Canada’s hydroelectric facilities produce 67% of the country’s electricity, and it is actively expanding wind and solar power. Canada’s commitment to achieving net-zero emissions by 2050 aligns with its active role in the Paris Agreement and COP26 initiatives. Its Smart Renewables and Electrification Pathways Program funds community-based green energy projects nationwide.

Italy

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Italy will have 30% of renewable energy in 2030 through solar and wind power. The country has acres of ground under the sun, which makes it ideal for laying down large solar farms. Some of these are among the biggest in Europe, such as the Montalto di Castro Solar Park. Italy also is a signatory to the Paris Agreement and has committed to the EU Green Deal, reducing carbon output by 55% by 2030. In addition, Italy has instituted a “Superbonus” program that takes the form of incentives for improving the energy efficiency of residences and driving solar home installations.

Netherlands

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While windmills were the images associated with the Netherlands, the country has heralded a new approach to modernization through vast expanses of offshore wind farms, such as the Borssele Wind Farm, which can power more than one million homes. The country has significantly invested in wind, solar, and hydrogen projects to reduce emissions by 49% by 2030. The country has also been looking into sunlight on bike lanes and green rooftops for urban areas as part of its energy efficiency efforts. In addition, the Netherlands follows up by investing in carbon capture and storage technology to abide by the EU Green Deal, which means taking the world to net zero by 2050.

Portugal

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Portugal generates more than 60% of its electricity through renewable sources. Wind and hydropower source most of the electricity. Setting such a high bar for achieving carbon neutrality by 2050, the country has vowed to entirely dispose of coal by 2023 in its bid during the 2021 UN Climate Change Conference. Renewable efforts have sparked with the Alqueva Dam in Portugal, where a floating solar farm was installed over its reservoir. Portugal aims to target green hydrogen as well. Portugal looks to become the European country producing and exporting the most hydrogen by 2030.

Chile

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Latin America’s most ambitious renewable energy targets belong to Chile, which sets as its goal 70% of electricity to be renewable by 2030. Chile’s Atacama Desert presents some of the world’s most efficient solar farms due to high altitudes and clear skies. The country has agreed to the Clean Energy Ministerial. It is developing the Green Hydrogen Strategy, aiming for Chile to be one of the world’s leading producers and exporters of green hydrogen by 2040. Since geothermal, wind, and solar resources are relatively plentiful in Chile, that country is well on its road to energy independence.

South Africa

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is rapidly diversifying its renewables sector to reduce its dependence on coal as much as possible, which currently accounts for 80% of the country’s energy. The government committed to producing 42% of its energy from sources other than coal by 2030 and initiated the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), which encourages private investment in wind and solar projects. The deals South Africa clinched at COP26 have given it significant financing commitments from developed economies to finance its coal-to-renewables transition that will take it to achieve its net-zero target by 2050.

United Arab Emirates (UAE)

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The UAE is the first Gulf country to commit to net zero by 2050. Masdar City, near Abu Dhabi, is a testament to the UAE’s renewable aspirations, showcasing solar farms, wind turbines, and green buildings. It is the world’s largest single-site solar park, aiming to reach 5,000 MW by 2030. The UAE, in cooperation with IRENA, headquartered in Abu Dhabi, is a great example in the region as part of the COP26 climate pact.

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