Nov 23, 2020

Top 10 renewable energy companies

Top10
Renewables
Environment
Dominic Ellis
7 min
Top 10 Renewable Energy Companies

Just a few years ago, renewable energy was considered to be a niche segment within the broader energy industry, with investment not yielding returns. However, with renewable technologies rapidly advancing, costs have dropped - in tandem with the rise in carbon-conscious governments eager to embrace renewables.

According to a recent study by the International Energy Agency, the cost per megawatt to build solar plants is now below fossil fuels worldwide for the first time.

With risk-reducing financial policies around the world now in place, the appetite for renewables is growing, bolstered by easier access to financing. In recent weeks, Joe Biden winning the US presidential election while campaigning on a renewable energy platform, and Boris Johnson unveiling a 10-point plan for a £12 billion ‘green industrial revolution’, has given further momentum to the widespread adoption of renewables as we move into 2021.

According to Goldman Sachs, the coming year will see global capital spending on renewable energy surpass fossil fuel capital expenditure for the first time in history. Renewable power will reach 25 percent of the total energy supply capex in 2021, beating out hydrocarbons for the first time ever, it adds. 

Furthermore, cleantech has the potential to drive £753 billion to £1.50 trillion per annum in green infrastructure investments and could hit £12 trillion by 2030, the investment banker says. This has the potential to create 15 to 20 million jobs worldwide, it adds.

Here are 10 of the biggest renewable energy companies, according to Investopedia.com. Organised by 12-month trailing revenue, the list is limited to companies that are publicly traded in the US or Canada, either directly or through ADRs.

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