Analyzing Renewable Energy Trends and Transforming the Energy Sector

December 11, 2020

Environmental concern and awareness regarding the need for renewable energy sources have grown exponentially over the past decade. Millennial and Gen Z individuals have taken various initiatives to improve the environmental status of the world. Natural hazards, climate change, loss of precious habitat, and the endangerment and extinction of different animal species have led to governments’ increased caution and renewable energy initiatives. These factors have influenced and impacted various renewable energy trends worldwide, and renewable energy market players have witnessed significant change.

The COVID-19 pandemic took a severe toll on the renewable energy market, causing various supply chain disruptions and slowing the process of shifting from traditional energy sources. However, there is immense scope for growth in the coming years due to significant and positive renewable energy trends affecting the market currently. Further, the reduced availability of fossil fuels, changing trade policies regarding the oil and gas industry, and increasing petrol and diesel prices have led to piquing consumers’ interest in renewable energy.

Although there have been various changes and renewable energy trends over the past year, the most significant ones have led to increased interest in the market, rising competition, and a range of options for consumers. Renewable energy sources include solar, wind, hydro, geothermal, tidal, and various others. All the sources of renewable energy require substantial investment and can be challenging to procure. However, Infiniti’s trends analysis experts studied the market and identified three significant renewable energy trends that can help companies and consumers tackle these challenges efficiently.

The world is evolving, and consumers have realized a need for change in energy consumption. To learn how renewable energy trends are propelling this conversion and how your business can capitalize on it, request a free proposal.

Renewable Energy Trends

There has been an upsurge in consumer and company interest in renewable energy. Considering the vast number of challenges, renewable energy was expected to grow at a slow and steady pace. However, with the recent renewable energy trends, experts can expect substantial growth in the market over the coming years, particularly in the post-COVID era. Three trends that are impacting the renewable energy market and propelling the growth are as follows:

renewable energy trends + trends analysis

Government Policies

The social, political, and economic impact of the COVID-19 pandemic has led to a significant set back for many countries. The post-COVID era holds the opportunity for countries and governments to recover and create a stronger, better, and more environmentally friendly country. While governments have increased economic and financial support for small businesses and citizens, there have also been significant investments towards creating a healthier and new country. Renewable energy sources enable sustainable and healthy recovery for countries.

Therefore, governments have introduced policies to promote the adoption and widespread use of renewable energy sources. Support from governments immediately translates into improved tax credits, expedited permits, better grants and loans for innovators, and new deadlines for interrupted projects. Companies can use this renewable energy trend to their advantage and further the promotion and adoption of their offerings, while consumers can adopt renewable energy sources with fewer challenges.

Change comes with advancement, innovation, and government initiatives. For comprehensive insights into how these changes impact your business and support the ideal growth strategies, speak with our industry experts.

reduced production costs substantially, and increased revenues. Our trends analysis solutions help businesses identify significant trends in the market, gain a comprehensive understanding of their impact, and develop impeccable strategies to address the same.

Infiniti’s trends analysis solutions can help businesses understand and incorporate the latest renewable energy trends efficiently. Request more information to learn how our solutions can help your business grow.

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