The green energy market is growing due to different factors in different regions. Climate changes, energy security and environment are major factors for growth of the green energy market in Europe. In the U.S. and Japan, energy security is driving the green energy market to some extent. Higher demand for energy access and economic development are some of the major factors driving the green energy market in developing countries.
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Green energy comes from resources which are naturally refilled on a human timescale such as tides, wind, rain, geothermal heat, sunlight and waves. Green energy replaces the conventional fuels in the sectors such as motor fuels, electricity generation, off grid energy services, and air and water heating or cooling.
On the basis of type, the green energy market can be categorized as solar photovoltaic (PV), wind energy, hydroelectric power, bio-fuels and geothermal energy. Hydroelectric power is one of the largest sources of green energy globally as it fulfills about 15% to 21% demand for electricity depending on capacity factors.
Some of the factors driving the growth of the green energy market are need for energy security driving demand for green energy, climate change and environmental issues, and increased consistency and reducing costs increasing consumer demand for green energy.
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Some of the major competitors in green energy market are Yingli Green Energy Holding Co. Ltd., Hanwha Q Cells GmbH, National Hydroelectric Power Corporation (NHPC) Ltd., Suntech Power Holdings Co. Ltd., Archer Daniels Midland Company, Aventine Renewable Energy Inc, JA Solar Holdings Co. Ltd., Suzlon Energy Ltd., U.S. Geothermal Inc, Kyocera Solar, Inc., Enphase Energy, Inc., Trina Solar Ltd., Calpine Corporation.
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