Trends and Opportunities in the Global Wind and Solar Markets

Demand for energy security is growing rapidly as geopolitical and climate-intensified events become more frequent. Geopolitical events such as the Russian invasion of Ukraine in February 2022 and the ongoing tensions between China and the US have shaken assumptions about the global energy system and forced countries, companies, and citizens to rethink how they produce and consume energy. Renewables such as wind and solar are consuming a greater market share of electricity generation in order to mitigate energy insecurity.

Wind and solar are expected to play a major role in the increasingly decarbonized electricity grids emerging around the world. Governments, regulatory bodies, utilities, corporations, and other clean energy stakeholders are forecasting and implementing more wind and solar deployments, and larger capacity projects are being planned across the globe. Onshore and offshore wind deployments are becoming more reputable sources of renewable energy, while distributed solar generation is steadily increasing to meet different consumer sector energy demands alongside utility-scale solar.

This Guidehouse Insights white paper provides an overview of the trends and opportunities in the global wind and solar industries, including market inflection trends, market drivers and barriers, market forecasts and regional market overviews, regional analyses (including impacts of regional legislation), and key recommendations for stakeholders. The report is based on data from Guidehouse Insights’ Global Wind Energy Database and Global Solar Energy Database.