Thetech Magazine explores which companies are leading the way to sustainable growth in the global arena, as governments confront the climate crisis
In 2020 in 2020, President Biden announced a $22 tn plan to fight climate change. This put in the U.S. on an “irreversible path” toward net-zero carbon emissions in 2050. In the context of this plan it was announced that the Biden administration’s Build Back Better strategy included tax incentives for investment within the energy and renewables sector. The renewable energy market is projected to reach USD$1.97 trillion by 2030.
Green energy is produced by renewable sources like water, wind and sunlight and the investments in this sector have soared.
According to the report by the International Energy Agency, renewable were the sole energy source which saw the demand for energy increase by 2020, despite the covid-19 pandemic. Bloomberg NEF stated that the global investment in the energy sector reached at a record amount of USD$755 billion by 2021 and the renewable energy segment consisting of solar, wind and other renewable sources making the largest portion of.
Thetech Magazine looks at which companies are at the forefront of renewable energy.
1: First Solar, Inc.
First Solar, Inc. provides solar and photovoltaic solutions across the United States, Japan, France, Canada, India, Australia, and internationally. The company develops, manufactures and sells solar panels which turn sunlight into electric power.
First Solar has developed, designed, financed, constructed, and operates some of the largest solar power stations that are connected to grids. Their expertise across the value chain of solar reduces risk while providing more reliable, reliable and cost-effective solutions to our clients.
Market Cap $8.23 Billion
2: Plug Power Inc.
Plug Power, Inc.. offers the hydrogen-fueled fuel cells to mobility, material handling stationary power and mobility market across North America and internationally. In February 17th, 2022 the company announced it would be working together with Atlas Copco Mafi-Trench Company LLC which is a leader worldwide for brazed heat exchanges as well as cryogenic cold boxes, in the development of hydrogen liquefaction facilities.
Market Cap $14.91 Billion
3: Vestas Wind Systems
Vestas Wind Systems is a Danish-based wind energy firm. It manufactures, develops wind turbines and sets them up. The company also runs an service division that offers services contracts, spare parts and other related services. The company has built wind turbines in a variety of countries around the world. Every day, 29,000 employees contribute to build a better world by developing manufacturing, constructing as well as developing and maintaining hybrid and wind projects throughout the world. With 145 000 GW of wind turbines being installed across 85 nations, the company’s eco-friendly energy solutions have prevented 1.5 billion tonnes of CO2 emissions to the atmosphere and helped to create the creation of a more green energy system.
Market Cap: $15.2 billion
4: SolarEdge Technologies, Inc.
The SolarEdge Technologies LLC. creates, designs and markets direct current-optimized inverter systems for solar photovoltaic installation around the world. The company operates in five divisions: Solar, Energy Storage, e-Mobility, Critical Power as well as Automation Machines. The Ukraine crisis has been an impetus for the rise in the demand for alternative fuels. The future of the renewable sector appears to be positive.
Market Cap $16.48 Billion
5: Brookfield Renewable Partners LP (BEP)
Brookfield Renewable PartnersL.P. manages renewable power-generating facilities across North America, Colombia, Brazil, Europe, India and China. Brookfield Renewable generates electricity using solar, hydroelectric, wind distribution generation, storage pumped biomass, and cogeneration sources. Brookfield Renewable operates one of the largest publically traded pure-play energy platforms that are renewable. Their portfolio includes hydroelectric wind, solar, and storage facilities located in North America, South America, Europe and Asia.
Market Cap $19.01 Billion
6: Siemens Gamesa Renewable Energy SA
Siemens Gamesa is a Spanish-based wind engineering firm. It sells offshore and onshore turbines and turbine gearboxes off-grid, as well as other equipment. It also offers maintenance and reconditioning solutions. The company has customers all over the world and has installed its products and technology in more than 90 countries. In the past 40 years, Siemens saw the potential to integrate engineering and nature and envisioned the possibility of making factories more efficient and lighting up cities, while also making sure that the air we breathe is clean. Today, they’ve turned the dream come true by producing clean energy that can power our schools, homes and hospitals, keeping the world moving from the biggest cities to the remotest areas of the globe.
Market Cap $23.24 Billion
Enphase Energy, Inc. develops, designs products, manufactures, and sells residential energy solutions to the solar photovoltaic sector across the United States and internationally. In 2006, the company was founded. Enphase revolutionized the solar industry through their innovative micro inverter technology, which transforms sunlight into a secure, durable, reliable and scalable source of power to power the lives of people. Today, their micro inverters are intelligent and can be used with nearly every solar panel that is made and when coupled with their smart battery technology, which has won awards creates one of the most efficient green energy systems.
Market Cap $24.84 Billion
8: Orsted A/S
Orsted is aiming at becoming carbon-neutral in its production and operations in 2025. The multinational power company based in Denmark is focused on providing green energy alternatives, primarily in the wind power segment that it operates and constructs offshore wind farm. Its thermal power and bioenergy segment runs combined power and heat plants.
Market Cap $52.97 billion
9: Iberdrola SA
Iberdrola It is an international electric utility based in Spain. company. It is involved in the production, distribution, and trade of electric power. It is a specialist in clean energy sources, such as offshore and onshore wind and offshore wind, pumped hydro, solar photovoltaic and batteries for storage. Iberdrola is also operating across its home countries of the U.S., U.K., Spain, Mexico, Brazil and has a global presence across Portugual, Greece, Japan and Austrailia.
Market Cap $71.19 billion
10: NextEra Energy, Inc.
NextEra Energy, Inc. produces and distributes, transmits electricity and sells it to wholesale and retail customers throughout North America. The company produces electricity using nuclear, solar, wind coal, natural gas power plants. NextEra is the world’s biggest utility company. Founded and headquartered in America They generate more solar and wind power than the other corporation around the globe.
Market Cap $160.55 Billion