The demand for clean energy is expected to accelerate worldwide as climate change concerns and support for environmental, social, and governance (ESG) factors deepen. Furthermore, the Biden administration's objective of fully decarbonizing the U.S. economy is stimulating development in the renewable sector.
In addition, with most nations developing long-term strategies to minimize their carbon footprints, investors are getting bullish on the prospects of this industry. According to a report published by Allied Market Research, the global renewable energy market is expected to reach $1977.6 billion by 2030, registering a CAGR of 8.4%.
