The renewable energy market - Italy

1.1 Introduction

The renewable energy market is concerned with the production, distribution and sale of energy generated from renewable sources. The main sources of renewable energy are:[Enelgreenpower]

• solar energy;
• wind energy;
• hydroelectric power;
• geothermal energy;
• biomass energy;
• marine energy.

The global energy crisis triggered by Russia's invasion of Ukraine has strengthened the momentum for renewable energy, highlighting the benefits of domestic renewable energy production for energy security. Countries have responded by strengthening renewable energy policies. The International Energy Agency(IEA) made the largest-ever upward revision to its renewable power forecast due to new policies and energy security concerns. Over the 2022-2027 period, renewable energy is expected to grow by nearly 2,400 GW, an 85 % increase over the previous five years. This revision is driven mainly by China, the EU, the United States and India.

By early 2025, renewables are expected to overtake coal as the world's leading source of electricity generation. By 2027, renewables will account for 38 percent of the global energy mix, with photovoltaic and wind power production doubling over the next five years to provide nearly 20 % of global energy production.[IEA]

The size of the global renewable energy market has been estimated at $1.1 trillion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030.[Grandviewresearch]

This study focuses on the renewable energy market in Italy as a whole, providing data to compare the above sources. For more specific information on the individual markets that comprise it, such as solar or wind power, please consult the specific studies available in the Businesscoot catalog.