Renewable Energy: Technologies and Global Markets

Publish Date: May 2019 | Category: Energy & Power | Publisher: BCC Research | Status: Publish

The global market for renewable energy (excluding biofuels) should grow from $636.1 billion in 2018 to reach $855.2 billion by 2023 at a compound annual growth rate (CAGR) of 6.1% for the period of 2018-2023.

Report Scope:

This report covers the major sources of renewable energy as primary fuels: hydroelectric, wind, solar, geothermal and oceanic sources (wave, tidal and thermal). This study will be useful for both renewable technology and material suppliers along with power generation companies which produce power through renewable resources. It will be helpful for companies making decisions such as estimating market demand for technologies and materials, making expansion and upgrade plans for existing facilities, deciding on investments in renewable energy sectors, etc.

This report intensively deals with power generation through renewable resources and therefore does not focus on other applications of renewable resources. However, it provides basic data on applications such as heating and lighting.

The scope of this report is intentionally wide. We cover the major sources of renewable energy as primary fuels—hydroelectric, wind, solar, geothermal and oceanic sources (wave, tidal and thermal) and liquid biofuels for transportation. There is no shortage in the marketplace of reports on each of these sources. However, what existing reports lack and what this report is intended to provide is a global perspective that places each source in a relevant context for decision makers in both the public and private sectors.

In particular, this report includes - 
- An overview of the global market for renewable energy and technologies.
- Analyses of global market trends, with data from 2017 and 2018 and projections through 2023.
- Coverage of the major sources of renewable energy as primary fuels including: hydroelectric, wind, solar, geothermal and oceanic sources (wave, tidal and thermal).
- Examination of the impact on the renewable energy market brought about by surging global demand for energy, the impact of climate change on alternative fuels, improvements in technology and the availability of new materials.
- Comprehensive profiles of major players in the field and technology patents.

Report Includes:

- 132 data tables
- An overview of the global market for renewable energy and related applications and technologies
- Analyses of global market trends, with data from 2017 to 2018, and projections of CAGRs through 2023
- Coverage of the major sources of renewable energy as primary fuels, including hydroelectric, wind, solar, liquid biofuels for transportation, geothermal, and oceanic sources (wave, tidal and thermal)
- Examination of the impact on the renewable energy market brought about by the surging global demand for energy, the impact of climate change on alternative fuels, improvements in technology, and the availability of new materials
- Information on how each source of renewable energy may employ differing technologies, have differing constraints, and offer different possibilities to different classes of users
- Comprehensive profiles of major players in the field, including Alstom Power, Bharat Heavy Electricals Ltd., General Electric, Hitachi and Toshiba Corp.

Summary

Renewable energy sources have had a strong decade of growth. In 2009, they contributed about 10% of global primary fuel supplies. However, the market environment for renewable energy is likely to be more challenging in the years ahead. As the prices for some renewable energy sources become more competitive, suppliers will be forced to compete. As the price of natural gas declines, the wind power industry in particular will be challenged to find ways to lower prices, even as future projects focus on more expensive offshore installations. Solar power, with its much larger customer and manufacturing base, will be able to respond more quickly, although declining prices and margins will be difficult for
suppliers just as declining business volume will be for the wind power industry. The workhorse of renewable energy—hydropower—will continue to grow mainly due to contracts signed and financing secured before the recent recession.

Asia-Pacific has emerged as the leading regional market with the largest installed renewable energy capacity, with REDACTED of global installed renewable energy capacity in 2017. In addition to being the largestinstalled capacity market, the Asia-Pacific region is also expected to be the fastest-growing regionalmarket for renewable energy, with an estimated compound annual growth rate (CAGR) of REDACTED from2018 to 2023.

China’s 13th Five-Year Plan aims to reduce emissions of harmful gases into the atmosphere by producing electricity using renewable resources. The country is expected to remain a key driving factor for the Asia-Pacific market over the forecast period. Additionally, increasing governmental interventions to promote electricity generation using renewable resources in India are expected to contribute to the growth of the regional market over the forecast period.

Regional demand for renewable electricity in Europe is expected to increase mainly due to government policies, particularly in Germany, France and the U.K., aimed at increasing the share of renewableenergy to REDACTED by 2020. Cumulative installed capacity of all renewable energy resources (except biofuels) in Europe is expected to reach REDACTED by 2023, growing at an estimated CAGR of REDACTED.

Efforts to reduce or minimize reliance on conventional energy resources such as oil, natural gas and coal due to growing environmental hazards caused during their use for power generation are expected to remain a key driving factor for the global market. In addition, governmental support in the form of tax benefits and financial incentives in nations such as the U.S., Germany, Iceland, France, the U.K., China and India is expected to drive production of renewable energy. However, the high costs associated with renewable energy production are expected to hinder market growth over the forecast period.

Hydroelectric has emerged as the leading renewable energy technology and accounted for REDACTED of cumulative installed capacity in 2017, followed by wind power, which accounted for REDACTED of total installed capacity. However, hydroelectric is one of the slowest-growing renewable resources as the industry has shifted its focus toward developing other high-growth technologies such as solar, wind and ocean, and is expected to account for only REDACTED of cumulative installed capacity in 2023. Projects expected in China and India are expected to increase wind power’s share to REDACTED by 2023. Solar power,including solar photovoltaic (PV) and concentrated solar power (CSP), is expected to be one of thefastest-growing renewable technologies, with an estimated CAGR of REDACTED from 2018 to 2023.

Table of Contents

Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Intended Audience
Methodology and Information Sources
Geographic Breakdown
Recent Developments
Analyst's Credentials
BCC Custom Research
Related BCC Research Reports

Chapter 2 Summary and Highlights

Chapter 3 Global Renewable Energy Market Overview
Overview
Renewable Energy Market Analysis
Renewable Energy Market Determinants
Growth of Carbon Dioxide Emission Levels
Institutions and Programs of Importance for the Renewable Energy Sector
Green-e Marketplace
LEED Certification Program
EPA’s Green Power Partnership
EPA’s Center for Corporate Climate Leadership
The Paris Agreement
Renewable Energy Market Segmentation
History of the Renewable Energy Market
Renewable Energy Installed Capacity
Growth in Electricity Demand
Global Roadmaps for Renewable Energy Generation
Power Generation Policy Support
New Renewable Energy Support Mechanisms
Feed-in Tariff/Feed-in Premium
Other Measures

Chapter 4 Solar Power Market
Overview
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Solar Power Market
Solar PV Market
North American Solar PV Market
European Solar PV Market
Asia-Pacific Solar PV Market
RoW Solar PV Market
Concentrated Solar Power Market
North American CSP Market
European CSP Market
Asia-Pacific CSP Market
RoW CSP Market
Industry Structure of Licensed Capacity
Licensing Periods
Legislative Framework for Solar Power
Competition in the Solar PV Manufacturing Market

Chapter 5 Wind Power Market
Overview
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Wind Power Market
Revenue and Installed Capacity by Region
North America
Europe
Asia-Pacific
RoW
Installed Capacity Clustering
Legislative Framework for Wind Power
Denmark
The European Union
India
Poland
United States
Australia
China
Competition in the Wind Power Market
Roadmap for Wind Power Market Development

Chapter 6 Geothermal Power Market
Overview
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Global Geothermal Energy Market
Revenue and Installed Capacity by Region
North America
Europe
Asia-Pacific
RoW
Geothermal Power Licensing Periods and Legislative Frameworks
Iceland
France
Italy
Germany
United States
Australia
RoW
Competition in the Geothermal Energy Market
Geothermal Investment Trends
Roadmap of Geothermal Energy Market Development
North America
Europe
Asia-Pacific
ROW
Middle East and Africa

Chapter 7 Hydroelectric Power Market
Overview
Run-of-River Hydropower Plant
Pumped Storage
Storage Hydropower
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Hydroelectric Power Market
Revenue and Installed Capacity by Region
North America
Europe
Asia-Pacific
RoW
Legislative Framework for Hydroelectric Power
China
United States
India
Recent General Global Hydropower Trends

Chapter 8 Ocean Energy Market
Overview
Types of Ocean Energy Technology
Wave Energy
Marine Current Energy
Ocean Thermal Energy Conversion
Market Dynamics
Market Drivers
Unstable Oil Prices
Global Warming
Declining Demand for Nuclear Power
Use of Coal
Ocean Power Market
Revenue and Installed Capacity Markets by Region
North America
Europe
Asia-Pacific
RoW
Licensing Period and Industry Structure for Licensed Capacity
Legislative Framework for Ocean Power
Competition in the Ocean Power Market
Recent News and Developments in the Global Ocean Power Market by Country
Belgium
Canada
China
Denmark
European Commission
France
Germany
India
Ireland
Italy
Republic of Korea
Mexico
The Netherlands
New Zealand
Norway
Portugal
Singapore
Spain
Sweden
United Kingdom
The United States

Chapter 9 Liquid Biofuels for the Transportation Sector
Overview
Biofuel Feedstocks
Crop Feedstock
Cellulosic Feedstock
Algae Feedstock
Carbon Dioxide Feedstock
Types of Biofuels
Conventional Biofuels
Advanced Biofuels
End-Products of Biofuels
Cellulosic Ethanol
Biodiesel
Biogas
Syngas
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Biodiesel Market
Revenue and Production by Region
North America
Europe
Asia-Pacific
RoW
Legislative Framework for Biofuels
E.U. legislation for Biofuels and Biomass for Energy Purposes
U.S. Legislation for Biofuels and Biomass for Energy Purposes
U.S. National Renewable Fuel Standard
California Low Carbon Fuel Standard
Competition in the Biofuel Market
Roadmap of Biofuel Market Development

Chapter 10 Factors Influencing Demand for Renewable Energy
Demographic Population Changes
Age
Household Composition
Increasing Income
Government Subsidies
European Union
United States
Factors influencing Solar Energy
International Support for Photovoltaics
European Activities
Implementing the Vision in Europe
Germany’s National Program
European Photovoltaic Industry Association
Japanese PV Efforts
Chinese Central Planning
National Energy Administration of China
13th Renewable Energy Development Five-Year Plan (2016-2020)
India
India 175 GW Renewable Energy Target for 2022
Other International Support for Solar Energy
Standards and Conformity Assessment Organizations
Economics and Costs of PV Installations
Solar Rebates and Incentives
U.S. PV Incentive Programs
State PV Incentives
Property Tax Exemptions
Sales Tax Exemptions
Federal PV Incentives
Emissions Trading Programs
Emissions Trading Systems
Chinese Pilot Trading Schemes

Chapter 11 Government Regulations
Government Commitments to Environmental Measures
Feed-In Tariffs
Renewable Portfolio Standards (RPS)
Power Purchase Agreements
Production Tax Credits
Renewable Energy Governing Bodies
United Nations Environment Programme
Division of Early Warning and Assessment
Division of Environmental Policy Division of Technology, Industry and Economics
Division of Policy Development and Law
Division of Environmental Policy Implementation
Division of Regional Cooperation
Division of Environmental Conventions
Global Environment Facility
UNEP Governing Bodies
UNEP Partnerships
UNEP Scientific Advisory Groups
The Ecosystem Conservation Group
Intergovernmental Panel on Climate Change
The Joint Group of Experts on the Scientific Aspects of Marine Environmental Protection
UNEP Energy Branch
Renewable Energy
Energy Efficiency
Sustainable Transport
Alternative Fuels
Roundtable of Sustainable Biofuels
International Resource Panel
Promoting Vehicle Energy Efficiency
Bioenergy Program
Intergovernmental Panel on Climate Change
European Commission
European Energy Commission
U.S. State, Local and Foreign Government Agencies
U.S. DOE
Energy Efficiency and Renewable Energy
Biomass
Geothermal Power
Solar Power
Hydropower
Vehicles
Federal Energy Management Program
Weatherization Intergovernmental Program
U.S. Environmental Protection Agency
EPA Energy
EPA Energy Star
Regional Government Initiatives
Local Government Initiatives

Chapter 12 Challenges to Renewable Energy Adoption
Solar Power
Capital Costs
PV Standards and Safety
International Standards
The Global Approval Program
Other Organizations
Hazardous Substances
Biofuels
Wave Energy and the Environment
Fish, Marine Life and Endangered Species
Visual Appearance and Noise
Sedimentary Flow Patterns
Device Fluid Leaks
Conflicts with Recreational Activities
U.S. Permit Process
FERC Process

Chapter 13 Patent Review/ New Developments
Technologies
Biotechnology
Nanotechnology
Renewable Energy Patents

Chapter 14 Company Profiles
Large Multi-Sector Operators
ACCIONA
BP
RWE
RWE NPOWER PLC
Renewable Energy Industry Suppliers
ABB LTD.
ALSTOM POWER
ANDRITZ AG
BHARAT HEAVY ELECTRICALS LTD.
DONGFANG ELECTRIC CORP. LTD.
FUJI ELECTRIC GROUP
GENERAL ELECTRIC
HARBIN ELECTRIC CO. LTD.
HITACHI
MITSUBISHI HEAVY INDUSTRIES
MITSUBISHI POWER SYSTEMS AMERICA
SIEMENS AKTIENGESELLSCHAFT
SIEMENS AG (HYDROPOWER)
TOSHIBA CORP.
Hydropower
AGDER ENERGI
BC HYDRO AND POWER AUTHORITY
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. (ELETROBRAS)
CHINA HUADIAN
CHINA YANGTZE POWER CO. LTD.
DUKE ENERGY CORP.
GEORGIA POWER CO.
HYDRO GREEN ENERGY
HYDRO-QUÉBEC
ONTARIO POWER GENERATION
RUSHYDRO
SHAOYANG HENGYUAN ZIJIANG HYDROELECTRIC EQUIPMENT CO., LTD.
SINOHYDRO
STAT KRAFT AS
VOITH AG
Wind Energy
ACCIONA
ENERCON GMBH
NORDEX SE
SIEMENSGAMESA
(XINJIANG) GOLDWIND SCIENCE AND TECHNOLOGY
Solar Energy
CANADIAN SOLAR INC.
FIRST SOLAR INC.
HANWHA QCELLS
HYUNDAI HEAVY INDUSTRIES CO. LTD.
JA SOLAR PV TECHNOLOGY CO. LTD.
JINKOSOLAR HOLDING CO. LTD.
KYOCERA
MOTECH INDUSTRIES
SCHOTT SOLAR CSP
SHANGHAI JA SOLAR PV TECHNOLOGY CO. LTD.
SHARP CORP.
SOLAR FRONTIER LTD.
SUNPOWER CORP.
SUNTECH
TRINA SOLAR LTD.
YINGLI SOLAR
Liquid Biofuels for Transportation
AMYRIS BIOTECHNOLOGIES INC.
ARCHERS DANIELS MIDLAND
BIOJET CORP.
BLUEFIRE RENEWABLES
COSAN
COSKATA
GREEN PLAINS RENEWABLE ENERGY INC.
GREENSHIFT CORP.
GUSHAN ENVIRONMENTAL ENERGY
POET LLC
RENTECH INC.
SAPPHIRE ENERGY INC.
SOLAZYME INC.
SUSTAINABLE OILS
THORNEY TECHNOLOGIES LTD
VALERO ENERGY CORP.
VERENIUM BIOFUELS CORP.
Geothermal Energy
ALTAROCK ENERGY INC.
CALPINE CORP.
CHEVRON CORP.
COMISIÓN FEDERAL DE ELECTRICIDAD
ENEL S.P.A.
ENERGY DEVELOPMENT CORP.
MERCURY NZ LTD (MIGHTY RIVER POWER)
ORMAT TECHNOLOGIES INC.
REYKJAVIK ENERGY (ORKUVEITA REYKJAVÍKUR)
TOSHIBA POWER SYSTEMS
Ocean Power
ANDRITZ HYDRO HAMMERFES
AQUAMARINE POWER
AW-ENERGY
AWS OCEAN ENERGY LTD.
BIOPOWER SYSTEMS PTY LTD.
CARNEGIE WAVE ENERGY
OCEAN POWER TECHNOLOGIES
OPENHYDRO
ORECON
PELAMIS WAVE POWER
RENEWABLE ENERGY HOLDINGS
SDE
SEABASED AB
SIMEC ATLANTIS ENERGY (MARINE CURRENT TURBINES)
SYNCWAVE ENERGY INC.
TRIDENT ENERGY LTD.
VOITH HYDRO WAVEGEN LTD.
WAVE DRAGON
WAVE ENERGY
WAVE STAR ENERGY

Chapter 15 Renewable Energy Ministries
Ministry of Environmental Protection, People’s Republic of China
Mandates
Departments
National Action Plan on Climate Change
Responsibilities
Current Environmental Situation
Key Areas and Main Tasks
Ministry of Environment and Forests of India
U.K. Department for Environment, Food and Rural Affairs
Sustainable Development
SDIG Targets
Biodiversity
Sustainable Communities
Governance and Delivery
Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety of Germany

Chapter 16 Appendix: Glossary
Biodiesel
Biofuels
Biomass
Fee-for-Service Model
Feed-in tariff (FIT)
Hydropower
Levelized Cost of Energy (LCOE)
Mandate/Obligation
Regulatory Policy
Watt/Kilowatt/Megawatt/Gigawatt/Terawatt-Hour

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