ENERGY TRANSITION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In February 2024, Ørsted, a Danish leader in renewable energy, announced its merger with a solar energy firm to strengthen its renewable energy portfolio. This strategic collaboration aims to enhance Ørsted's capabilities in the solar sector, complementing its extensive investments in offshore and onshore wind farms.
• In June 2023, First Solar, a leading U.S.-based solar technology company known for its eco-efficient thin-film photovoltaic modules, introduced a new line of high-efficiency solar panels. This latest product release is part of First Solar's ongoing commitment to advancing solar technology and providing sustainable energy solutions.
• In November 2022, Tesla, a leading electric vehicle and clean energy company, partnered with a major utility company to develop large-scale energy storage systems. This collaboration aims to enhance the utility's capacity to integrate renewable energy sources and improve grid reliability through Tesla's advanced battery technology. Tesla is known for its innovative energy solutions, including the Megapack, which is designed for utility-scale energy storage. This partnership will leverage Tesla's expertise in battery technology to create efficient energy storage solutions that can support the growing demand for renewable energy integration.
• In August 2021, General Electric (GE), a global high-tech industrial company headquartered in Boston, acquired a renewable energy technology firm to enhance its wind energy solutions. This acquisition is part of GE's strategy to strengthen its Renewable Energy segment, which focuses on providing innovative technologies for wind, hydro, and solar energy.