In this article, we will list the 10 largest solar companies in the world. Click to move forward and go to 5 largest solar companies in the world. Listen, we all know the problem of power generation and power generation not only in the last decades but also in the last few centuries since the start of the industrial age.
Throughout history and since the beginning of the industrial age, we have used renewable energy resources and burned them to generate energy and in turn manufacture electricity, which is one of the most integral necessities of the modern world. However, on the one hand, these resources are present in the depths of the earth and in limited quantity, which means that they cannot be relied on indefinitely or even more than a century or two at most, even if these estimates are regularly revised. This means that we needed substitutes for these products to ensure an uninterrupted supply for the foreseeable future and even beyond. Second, the burning of fossil fuels is perhaps one of the most dangerous practices that we have practiced for so long and that has caused significant damage to the planet we live on. Burning fossil fuels releases greenhouse gases into our atmosphere, where it does great damage and is one of the main causes of global warming, which has now been given the more acceptable name of climate change.
If you look around you are more than likely to be among the vast majority of people who are now seeing the first major effects of climate change, which has resulted in extreme summers breaking record after record, while winters seem to be. harder too. Erratic weather patterns have resulted in storms and major weather events occurring with higher frequency and severity. This is another reason why we needed an alternative to fossil fuels, which we found.
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Renewable resources refer to resources that are replenished naturally and therefore abundant and are not at risk of being exhausted. Replacing non-renewable resources with renewable resources not only solves the problem of future supply, but also that of climate change, because using renewable resources to generate electricity is much more environmentally friendly than fossil fuels. Among the many renewable resources available, sunlight, water, geothermal and wind sources have dominated the energy scene and solar companies have started to rise to the top.
In some of the world’s most developed economies, particularly those in Western Europe and North America, people have achieved a standard of living sufficient to now focus on some of the longer term issues such as climate change. and improve them. This is why these companies began to promulgate rules and regulations designed to discourage the burning of fossil fuels and instead encourage the creation of companies that use renewable resources to generate electricity. As a result, more and more renewable resource companies are being incorporated and are experiencing significant growth year by year. While this article focuses on solar companies, you can also take a look at 15 largest wind energy companies in the world.
2019 was a huge year for the solar industry, or what is known as the solar PV market, where 120 gigawatts (GW) were installed during the year, a 15% increase over the last year. Not surprisingly, China was the world’s largest market for solar power, although the United States was not far behind in second place. It also matches the wind power industry, where by far the biggest markets are China and the United States. In 2019, 30 GW were installed in China. After the two giants are India then Japan. Only the 5 largest countries in the industry managed to account for almost 60% of the total solar PV capacity that was installed in 2019. The best thing about solar power is that it is actually cheaper. than fossil fuels in many parts of the world, which is why there were at least 20 countries around the world that added at least 1 GW, which shows the industry’s appeal in small and medium size.
Nowadays, solar auctions are the way forward for acquiring large-scale projects on a global scale and, as a result, are spreading in many countries. Of the global solar PV installed in 2019, China, the United States, Japan and India accounted for nearly 70%. This means that while companies in these countries were involved in the local installations, they were also responsible for most of the GW installations around the world.
Of course, there is always a caveat these days whenever we talk about an industry and its potential growth and this caveat relates to the Covid-19 pandemic, which has been going on for a year and so. Unless approved vaccines are successful, show no signs of slowing down at all. In 2020, the expected decline in demand for solar power is around 20-25%, although proper statistics in this regard will not be obtained until later in 2021, when everyone will start to properly analyze the industry. in 2020. The good thing here is, the solar industry has been able to persevere in the pandemic much better than other energy companies and, with falling costs in the industry, is expected to attract more investment and higher growth from 2021.
To consider the largest solar companies in the world, we only considered companies that have operations in more than one country, in order to capture the industry as a whole, which is why NextEra Energy (NYSE: NEE) lack. This list consists of a diverse group of companies, many of which are expanding globally while others already have significant operations in many different countries across the globe. The list includes the renewable energy branches of the major conglomerates, while also including stand-alone solar energy companies. About 33 GW of solar farms around the world are controlled by the world’s 10 largest mining companies. Meanwhile, the largest solar power developers are also expanding into more mature economies such as the United States, ensuring lower risk and higher potential returns, while emerging markets are seen as potentially the markets. the most lucrative because of their population and size. as the energy shortages faced by many countries of this umbrella. Our ranking is based on the total capacity of large-scale solar power developers, based on their current total capacity. All data is taken from a Mercom Capital Group report. So let’s take a look at the names of the companies that are at the peak of their solar art, starting with number 10:
Total solar capacity of the company in 2019 (in MW): 3,493
Engie is a French company and one of the largest energy companies in the world, and since 2014, has initiated a strategic shift by investing mainly in renewable energy resources and moving away from the exploration of fossil fuels.
Pixabay / public domain
9. BP light source (NYSE: BP)
Total solar capacity of the company in 2019 (in MW): 3,696
The second largest solar company in Europe is Lightsource BP, which was acquired by BP just a few years ago in 2018. It has offices in Europe and the United States as well as India, while headquartered in London.
Pixabay / public domain
Total solar capacity of the company in 2019 (in MW): 3,699
Invenergy is an American company present in Asia, Europe and the Americas, with wind, solar and natural gas installations in 164 projects of approximately 25 GW. It has started the commercial operation of its solar power center in Wilkinson, with a capacity of 74 MW.
Pixabay / public domain
Total solar capacity of the company in 2019 (in MW): 3,937
One of the largest solar companies in the world is AES, which has a very diverse portfolio of thermal generation and renewables, although it is now mainly pivoting towards the latter and, as a result, is gaining a spot on our list.
Federico Rostagno / Shutterstock.com
Total solar capacity of the company in 2019 (in MW): 5,195
America’s second largest solar company is involved in manufacturing solar panels as well as providing photovoltaic power plants and other services. The company was founded 21 years ago in 1999 and in 2009 became the first company in the world to cut costs to $ 1 per watt. It is one of the most innovative and fastest growing technology companies with revenues of over $ 3.5 billion per year.
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Disclosure: No position. 10 largest solar companies in the world was originally published on Insider Monkey.