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Renewable Energy Carbon Credit Market Trends

Report ID: GMI11277
Published Date: Sep 2024
Report Format: PDF

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Renewable Energy Carbon Credit Market Trends

Innovations in renewable energy technologies, such as solar, wind, and bioenergy, are reducing costs and increasing the efficiency of these energy sources. As renewable energy becomes more accessible and cost-effective, the generation of carbon credits from these sources is rising, supporting market expansion. In addition, the growing global awareness and concern over climate change are propelling the adoption of renewable energy and carbon credits. Public and private sector commitments to achieving net-zero emissions and the participation in global climate initiatives like the Paris Agreement are fuelling the growth of the market.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

Renewable energy carbon credit industry was estimated at USD 26.9 billion in 2023 and is projected to observe a growth rate of 15% through 2032, due to stringent government regulations & policies, along with favouring corporate sustainability initiatives towards carbon emission.

The compliance carbon credit segment of market will grow at a rate of over 12.5% through 2032 as integrating renewable energy management into carbon pricing mechanisms incentivize companies to earn credits for reducing emissions.

Europe renewable energy carbon credit industry is anticipated to exceed USD 60 billion by 2032, owing to the continuous & exponentially increasing impact of stringent government policies and regulations along with shifting focus toward emission curb.

The renewable energy carbon credit industry consists of a wide range of players including 3Degrees, ClimeCo LLC., EcoAct, Sterling Plant Inc., and CarbonClear, among others.