United States Renewable Energy Market Size, Share, Industry Overview, Trends and Forecast 2034

IMARC Group has recently released a new research study titled “US Renewable Energy Market Report by Type (Hydro Power, Wind Power, Solar Power, Bioenergy, and Others), End User (Industrial, Residential, Commercial), and Region 2026-2034”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

United States Renewable Energy Market Overview

The United States renewable energy market reached a size of USD 260.4 Billion in 2025, with forecasts projecting growth to USD 579.9 Billion by 2034, reflecting a CAGR of 9.30% during 2026-2034. The market expansion is driven by national efforts to conserve resources, improve air quality, protect biodiversity, and mitigate climate change impacts. Renewable energy's sustainability, cost-effectiveness, and extensive applications make it a crucial element in the country’s clean energy transition.

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Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

United States Renewable Energy Market Key Takeaways

• Current Market Size: USD 260.4 Billion in 2025
• CAGR: 9.30% (2026-2034)
• Forecast Period: 2026-2034
• The market includes diverse renewable sources such as solar, wind, hydro, geothermal, biomass, tidal, and wave energy.
• Applications span electricity generation, transportation, heating and cooling, desalination, water treatment, irrigation, street lighting, space exploration, military, and research.
• Energy storage technologies like lithium-ion batteries are increasingly supporting grid reliability and renewable integration.
• Offshore wind energy development is a strategic focus, targeting 30 gigawatts capacity by 2030 and beyond.

United States Renewable Energy Market Growth Factors

The growth of the United States renewable energy market is significantly propelled by growing environmental concerns such as conserving natural resources, improving air quality, protecting biodiversity, and mitigating the impacts of climate change. These considerations drive both government and private sector investments aimed at sustainable energy development and infrastructure enhancements across the country.

The extensive and varied applications of renewable energy sources, which include solar, wind, hydro, geothermal, biomass, tidal, and wave energy, foster market expansion. These sources power electricity generation, transportation, heating and cooling, and specialized uses such as desalination, water treatment, irrigation, street lighting, space exploration, military operations, and research activities. Their economic benefits and carbon footprint reduction further stimulate adoption.

A notable market trend influencing growth is the emergence and adoption of energy storage solutions, particularly lithium-ion batteries. These technologies address the intermittent nature of solar and wind power by storing excess energy, balancing supply-demand gaps, and enabling decentralized systems such as smart grids and microgrids. This flexibility enhances renewable energy penetration and grid stability, driving infrastructural development.

United States Renewable Energy Market Segmentation

Type Insights:

• Hydro Power: Renewable energy generated from water resources, used extensively for electricity generation.
• Wind Power: Energy harnessed from wind, both onshore and offshore, including expanding offshore wind capacity.
• Solar Power: Electricity produced by converting sunlight, a commonly adopted renewable source with vast applications.
• Bioenergy: Energy derived from organic materials, supporting diversified renewable portfolios.
• Others: Includes geothermal, tidal, wave energy, and other emerging renewable technologies supporting diversification.

End User Insights:

• Industrial: Renewable energy applications supporting manufacturing and heavy industries.
• Residential: Renewable energy usage in homes for electricity, heating, and cooling.
• Commercial: Renewable solutions deployed in business and commercial infrastructures.

Regional Insights

The report segments the US renewable energy market into the Northeast, Midwest, South, and West regions.

Key Players

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Market Report Coverage

• Base Year of the Analysis: 2025
• Historical Period: 2020-2025
• Forecast Period: 2026-2034
• Units: Billion USD
• Scope of the Report: Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment
• Types Covered: Hydro Power, Wind Power, Solar Power, Bioenergy, Others
• End Users Covered: Industrial, Residential, Commercial
• Regions Covered: Northeast, Midwest, South, West
• Customization Scope: 10% Free Customization
• Post-Sale Analyst Support: 10-12 Weeks
• Delivery Format: PDF and Excel through Email (Editable version of report in PPT/Word on special request)

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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