The Leading Renewable Energy Companies in the US in 2024

The US is the technological wonder of the world. One of the most developed nations in the world, the US has a lot of renewable energy solutions, but not all of them are implemented on a full scale. After all, the renewable energy sector produces around 11% of US energy only, while the fossil fuel industry still produces 80% of its energy. While offshore wind farms and innovative energy battery storage will need a few more decades to become grid-wide solutions, let’s see what is currently being done. 

Renewable energy in the US is a disruptive technology. That can be seen all around the world. As countries shut down their coal-powered plants and turn to solar panels and wind turbines, the electricity we use becomes cleaner, while the air we breathe becomes healthier and less polluted. 

The benefits of switching to renewable energy are numerous. Switching linear to circular economies, reducing our carbon footprint, and significantly reducing the energy price are all economic drivers that we should hope to see in the upcoming decades. Solar panels can already produce more power than is needed in some states, such as Florida, and wind power is becoming cheaper as we speak. 

So, why are there no more renewable energy assets in the US? Well, the biggest issue that the country faces with modernizing its power grid and switching to clean, renewable energy has to do with its storage of it: energy storage is very expensive and can double the initial costs while needing to be replaced every 10-20 years. In reality, this issue can only be overcome by diversifying renewable energy sources and decentralizing them. Only this way can we reduce the need for energy storage. 

After all, the sun always shines somewhere, and the wind always blows somewhere. If this is not enough, biogas, biomass, geothermal, hydro, and pumped hydro solutions are there to take over the energy supply. Providing renewable energy solutions to all should be our top priority. 

Although the fossil fuel industry remains blind to climate change, there are many companies that understand just how serious the issue is. With this in mind, many companies have made a big change in renewable power generating facilities and the renewable energy industry. Considering their efforts, it can be said that the likelihood of the US reaching its 2050 zero-carbon goals is very likely to happen. 

Top Renewable Energy Companies in the USA

These energy companies deal with renewable energy. Wind turbines and solar panels are currently the cheapest way to produce electricity, at the price of under $0.05 per kWh. Green energy is not only a reality, it is a necessity for true energy justice and energy independence. Considering recent political developments in the world and the results we all face with an increase in fuel prices and energy bills, switching to renewable power plants is a must. 

Here are the top 19 renewable energy companies in the US: 

• Aesolar,
• Biodico,
• Enphase,
• First Solar,
• Geronimo Energy,
• Green Fuel Technologies,
• Green Mountain Energy,
• Inventure Renewables Inc,
• NextEra Energy,
• Pacific Ethanol,
• PlanEt,
• Plug Power Inc.,
• Renewable Energy Group Inc.,
• Silicor Materials,
• Solazyme Inc,
• Sunnova,
• SunPower Corp,
• Synthetic Genomics, and 
• TESLA. 

Aesolar

Aesolar was founded in 1999 in Illinois. This renewable energy company offers innovative energy solutions and mostly focuses on residential customers. They specialize in solar modules, energy efficiency, and on-grid renewable capacities. It also has a number of educational sources and is likely one of the first companies with a diverse approach to renewable energy generation in the US. 

Biodico

Biodico is a larger company. It designs, builds, and operates biorefineries across the US and has managed to expand its production capacities to Colorado, Texas, and Australia. This has all happened in California, where the company was founded in 2016. The company uses its own patents and others’ patented technology. Biodico makes biofuels from diverse sources of fats and oils and can also process other available feedstock. 

Enphase

Enphase was founded in 2006. It has transformed the solar energy industry by providing the market with inexpensive and reliable micro inverters that allow solar energy to be used and stored safely. The microinverters work with almost every panel that has ever been produced and provide a reliable conversion of DC to AC for your appliances and devices to use. So far, Enphase has managed to offset 31 million metric tons of CO2. 

First Solar

First Solar is a US company founded in Arizona in 1999. The company provides solar energy solutions. It manufactures solar panels to its own specifications and it mostly deals with thin-film solar panels. Solar energy produced by these panels is lower in quantity than with other types of solar power generation, but the company offers some of the shortest payback periods in the solar industry. 

Geronimo Energy

A Minnesota-based company founded in 2004, Geronimo Energy is a company that has roots in the agricultural sector. The company installs wind turbines for both residential and community use. It also deals with community solar energy, commercial solar, construction, design, and operation of renewable capacities. 

Green Fuel Technologies

Green Fuel Technologies was founded in 1975 in Canada. The company does not produce any fuels, but rather fuel supplements. Green Fuel Technologies and their supplements can reduce GHG emissions by 70% and are biodegradable. The supplements can also improve the performance of vehicles – adding an additional 10-20% of mileage per gallon of fuel. 

Green Mountain Energy

Green Mountain Energy uses hydro, solar, and wind energy to help transition the US power grid to completely renewable energy sources. These and other renewable sources that Green Mountain Energy has installed so far have helped prevent the emission of more than 80 billion pounds of CO2. Green Mountain Energy is determined to keep investing in renewable sources and helping energy transition in the US. 

Inventure Renewables Inc

Inventure Renewables offers a new take on agricultural waste. One of the biggest renewable energy companies in the US, Inventure Renewables is a biodiesel production company, but there is so much more than the company does besides producing clean energy. They design and build systems for agricultural waste processing (similar technology can also be used for other types of solid and liquid waste). The added value is a good source of income on any farm and other larger residential formats. 

Next Era Energy

NextEra Energy is one of the biggest renewable companies in the world. A global leader in clean energy generation, it has over 45 GW of renewable capacity. NextEra Energy resources include solar, wind, natural gas plants, oil plants, and nuclear energy plants. It is one of the older renewable power providers in the US, having been established in 1925. 

Pacific Ethanol

As the name says, Pacific Ethanol (now Alto Ingredients) is an energy company that deals with ethanol production. It specializes in low-carbon ethanol production. It has 9 biorefineries throughout the states, and a portion of its success can be attributed to its logistics: by placing its refineries close to feed source and their clients, the company has managed to bring down transportation costs and overall ethanol prices. Pacific Ethanol proves that producing clean energy does not have to be a centralized undertaking. 

PlanEt

PlanEt deals with biomass, and biofuels. The company is an affiliate of PlanEt Biogas Group from Germany. This is a global industry leader in the biogas industry. PlanEt specializes in designing, building, maintaining, and reconditioning services all over the world. This energy company has managed to save over 16 million metric tons of CO2 emissions. 

Plug Power Inc.

Plug Power Inc invests in green hydrogen solutions. Green hydrogen is one of the fuels of the future, enabling transportation, heating, and electricity generation with virtually no CO2 emissions. The company also supports other businesses and believes in responsible stewardship of the planet. 

Renewable Energy Group Inc.

Renewable Energy Group Inc. produces sustainable biofuels and ensures less CO2 is emitted than with conventional fuels. The company is a part of the Chevron Renewable Energy Group and it owns 11 biorefineries in the US and Europe. In 2021, the company has managed to offset as much as 4.1 million metric tons of CO2 emissions. 

Silicor Materials

Founded in 2006, Silicor Materials manufactures solar modules and materials, including solar silicone. The company strives to be carbon-neutral. The solar silicone that this energy company produces is supposed to replace the expensive electronic silicone used in modern solar PV panels. 

Solazyme Inc

Solazyme (now TerraVia) was founded in San Francisco in 2005. At first, it was known as Terra Via. This energy company specializes in algae growth and utilization for use in the food industry. They produce oils, fats, proteins, and fibers, all from algae. The algae they produce have a positive impact on the environment and the ecology in the US. The algae the company grows has possible applications in the fuel industry as well. 

Sunnova

Founded in 2012, Sunnova leads residential customers in the US to a more sustainable future by enabling solar module installation and adding solar batteries to any solar panel array. This way, their customers can be carbon-neutral (in the sense of electricity used). Sunnova provides maintenance and repair services as well. 

SunPower Corp

SunPower Corp is a solar company that wants to see the world as a better place. Residential and commercial solar power systems that they have installed throughout the world help reduce your carbon footprint and provide your home or business with renewable energy. The company has more than 7,000 employees and was founded more than 30 years ago. 

Synthetic Genomics

Synthetic Genomics (now Viridos) is a US-based company dealing with algae and their utilization for biofuel production. The company has considerable experience in producing energy-dense fuels and making them low-carbon. The company applies proven techniques and patents to grow algae on a massive scale. 

TESLA

One of the best-known companies in the world, TESLA is a giant in the field. Although energy production is not their primary aim, the company produces affordable electric cars with decent performance and the Tesla PowerWall – a residential energy storage solution that can be scaled up to industrial levels. 

Percentage of Renewable Energy in the USA

Clean energy generation from green or renewable power plants in the US is on the rise. In fact, this is one of the fastest-growing ways to produce energy. Wind turbines and solar panels grow the fastest, thanks to the ease of installation and a low price compared to building other types of power plants. Offshore wind farms to do, but the US has enough space to satisfy its own energy needs through on-shore capacities only. 

The changing landscape of the automotive industry, with its switch to electric cars with high energy efficiency, poses new challenges to the grid, as it seems that energy consumption grows faster than the production capacity of clean energy. To offset this, a more decentralized approach to energy production is needed. Net metering and other similar incentives are likely to push more generation capacities to the households themselves – through roof-mounted solar modules. 

Nevertheless, the US still experiences growth in renewable energy production. As a global leader in technological advancement, the US is likely to be among the first countries to ditch fossil fuels altogether. Installed wind turbines and solar modules add to the diversity of energy production and are likely to bring energy prices down, in the long run. 

Percentage of each energy source in the total energy production in the US – 2021. 

Of course, solar and wind energy are not the only types of renewable energy sources being utilized in the US. Unfortunately, not the entire US has the same potential sources for green energy production. Hydropower, for example, has been around for a while and produces a significant portion (22%) of US renewable energy. Geothermal energy is not universally available and makes up only 2% of production capacity. Here is US green energy generation breakdown by source: 

Total Renewable Energy Breakdown by Source

Renewable Energy Consumption in the USA

Renewable energy in the US comes from various sources. This kind of diversified approach is likely to be a safe path to a sustainable future. Solar panels and wind turbines installed as an additional source of revenue on farms are likely to grow in number and generation capacity, while wood and biowaste still need to be tapped into. Some farms use these energy sources for heat generation, but further implementation is needed to ensure these can be integrated on a larger scale. 

When it comes to the consumption of renewable energy in the US, a distributed generation might slow down its further adaptation in the residential and transportation sector. The industrial sector already accounts for 19% of total renewable energy consumed in the US, but a portion of this consumption comes from owned production, both on-site and off-site, through investments or Renewable Energy Credit (REC) purchases. 

Here is a breakdown of who uses renewable energy in the US: 

Other Large Renewable Energy Companies in the World

The energy transition is taking over the world as wind turbines and solar panel farms keep springing up all over the globe. A lot of innovative clean energy solutions and energy storage solutions are being tested and implemented. In this picture, a number of clean energy companies seem to be dominating the market and are very likely to keep doing so in the upcoming decades. Here are some of the biggest renewable energy companies in the world: 

• Brookfield Renewable Partners LP,
• Canadian Solar Inc.,
• Iberdrola SA,
• JinkoSolar Holding Co. Ltd,
• Orsted A/S,
• Siemens Gamesa Renewable Energy SA,
• SolarEdge Technologies, Inc., and 
• Vestas Wind Systems. 

Brookfield Renewable Partners LP

This company runs renewable energy power plants in North America, South America, Europe, India, and China. The company generates most of its power through solar, wind, and hydro. It supports distributed power generation capacities and is publicly traded. The company has a market cap of $19 Billion. 

Canadian Solar Inc.

Canadian Solar Inc works in 160 countries of the world. Canadian Solar designs and manufactures solar PV modules and works to improve solar panel efficiency. The company has subsidiaries in 23 countries and has manufactured more than 67 GW of solar capacity so far. 

Iberdrola SA

Iberdrola SA is an electric utility company. It has its own generation and distribution capacities. It also trades energy. Iberdrola provides clean energy, including wind energy (coming both from onshore and offshore wind capacities). It operates in the US, UK, Mexico, Spain, Brazil, Greece, Japan, and Australia. 

JinkoSolar Holding Co. Ltd

JinkoSolar Holding Co. Ltd provides materials and elements for solar panels. They comprise a large portion of the silicon wafer and ingot market and supply clients across Asia, America, and Europe. 

Orsted A/S

Iberdrola is one of the biggest energy companies in the world. The company owns the largest pumped hydro battery in the world. It also works with wind energy and goes for cogeneration facilities, mostly heat and electricity cogeneration. 

Siemens Gamesa Renewable Energy SA

Siemens Gamesa Renewable Energy SA is based in Spain. This company mostly deals with wind energy, where it produces and sells onshore and offshore wind capacities, as well as gears and other equipment used in the industry. The company has a vision of supplying as much as possible clean energy for the residential and commercial sectors. It serves customers in over 90 countries. 

SolarEdge Technologies, Inc.

SolarEdge Technologies produces inverters for solar panels worldwide. The company has split its business venture into several segments: solar, energy storage, automation, critical power, and e-mobility. The company supports Ukraine in mending the war-inflicted damage to its electrical infrastructure. 

Vestas Wind Systems 

Vestas Wind Systems provides solutions for both onshore and offshore wind systems. The company employs 29,000 people and is present in 85 countries, where they have installed their wind turbines so far. The company has prevented the emission of more than 1.5 Billion metric tons of CO2 so far, a number very likely to exponentially grow. 

What is Market Capitalization?

Let’s first consider what market capitalization is not. Market capitalization is not the total value of a company’s assets. It is also not reflected by its total sales or the profits it makes. 

Market capitalization or market cap is how much the market values a publicly traded company. To see what the market capitalization of a particular company is, simply check out the number of available shares and multiply this number by the value of a single share. The number you get is market capitalization. 

For example, AT&T has 7.6 Billion shares. As each share costs roughly $19, we multiply the two numbers to get an (approximate) market cap. Be careful that this value changes daily, so your calculation should only be seen as an estimate. So, AT&T is worth approximately $140 Billion. 

Here is the market capitalization of the top green energy companies in the world: 

Biggest Green Companies and Market Caps

FAQs

Conclusion

Renewable energy capacities will keep expanding, ultimately replacing fossil fuels and providing the world with affordable energy and a more circular economy. Considering developments in the field of energy, such as intentional restrictions of natural gas deliveries and oil production capacities the world governments are very likely to improve their transition to renewables. Solar Photovoltaic, wind and micro-hydro solutions are likely to lead the way. 

Updated on 06-05-23