Renewable energy is one of the hottest industries amid excellent growth prospects, driven by the world’s shifting focus towards green energy, climate-friendly and cost-effective technologies. Data from U.S. Energy Information suggests that electricity generation from renewable energy in 2021 will increase to 21% in 2021 from 20% in 2020. According to Deloitte, as of December 2020, the share of renewables surpassed that of coal in power generation for 153 days compared with 39 days in 2019. Renewable energy is gaining support worldwide, driven by the Paris agreement and realization by governments that adapting renewable energy is sustainable and cost effective. Industries are also ditching conventional energy means in the favor of renewable energy. From 2016 to 2019, coal-fired electricity generation plummeted 22%, according to U.S. Energy Information Administration, despite President Trump’s efforts to revive coal in the country.
As a result, renewable energy stocks are thriving. In 2020, the MAC Global Solar Energy Index posted a 233% gain. Renewable Energy Industrial Index, or RENIXX, is up over 122% in the last 12 months.
Analysts also believe that the renewable energy market would thrive under the Biden administration. President Biden's plan to shift the U.S. energy market away from fossil fuels towards wind, solar and other renewable-energy sources. Immediately assuming the office, President Biden signed a flurry of climate-related executive orders. The president plans to create 10 million new jobs related to clean energy. He has also proposed a $2 trillion climate plan.
Energy's biggest consumers include the residential sector, transportation sector, industrial sector, and commercial sector. For decades these sectors relied on non-renewable energy, which is created by burning fossil fuels, including petroleum, hydrocarbon gas liquids, natural gas, and coal. They are termed as non-renewable energy sources because they cannot be naturally renewed. Fossil fuels take millions of years to form through decomposition of plankton and plants underground. Nearly 15 billion metric tons of fossil fuels are consumed each year.
Despite the limitations of fossil fuels and other non-renewable sources of energy, most of the world still relies on them for its energy needs. According to BP's Statistical Review of World Energy, 84% of the energy in 2019 came from oil, coal and natural gas.
15 biggest renewable energy companies and stocks
However, the growth prospects of renewable energy remain strong. Sources such as wind power, solar power, hydroelectric power, and wave power are replenished naturally, and have the potential to keep up with the human demand for energy. Unlike fossil fuels, nonrenewable energy sources also do not contribute to greenhouse gas emissions which are responsible for devastating effects on the climate.
Countries are starting to adapt renewable energy worldwide. Iceland and Norway have already begun to generate most of their consumed electricity from these sources, with many others pledging to become 100% carbon-free in the coming decade. Some companies primarily involved in the utilization of fossil fuels for energy created subsidiaries or new departments to adapt this trend.
Today, there are several different operations within the renewable energy sector. These include the generation of electricity from the wind, sun, or sources of water, the development of biofuel from animal and plant material, and the production of electric-power vehicles and their associated charging stations. As ideas about clean energy and sustainability become more mainstream, the market for renewable energy is increasing as well. In fact, by 2025, the global renewable energy market is expected to reach $1,512.3 billion.
For this reason, we have prepared a list of the biggest renewable energy companies and stocks in the world. To prepare this ranking, we have used Global Fortune 500 list as well as each company’s annual reports for 2019 as our sources. We ranked the companies based on revenue, assets, profits and headcount.
Let's start out list of 15 biggest renewable energy companies and stocks.
15. CropEnergies AG (XETRA: CE2.DE)
Total revenue of the company in 2019 (in millions of dollars): 1,089.52Total profits of the company in 2019 (in millions of dollars): 125.92Total assets of the company in 2019 (in millions of dollars): 129.68Total employees of the company in 2019: 450
First on our list of the biggest renewable energy companies and stocks is CropEnergies. A subsidiary of the German sugar producer Südzucke, CropEnergies is the leading European producer of ethanol. Ethanol, while not as clean a resource as wind or solar, is still a viable source of renewable energy. The company produces biofuels from renewable raw materials such as sugar syrups, wheat, and raw alcohol from wheat, maize, and barley.
Total revenue of the company in 2019 (in millions of dollars): 1,864.2Total profits of the company in 2019 (in millions of dollars): 125.9Total assets of the company in 2019 (in millions of dollars): 2,171Total employees of the company in 2019: 8,400
The Silicon Valley-based energy company SunPower Corp is partially owned by the French multinational oil and gas company Total SE (NYSE:TOT). SunPower develops and manufactures solar panels and photovoltaic cells. The company has received more than 1,000 patents for solar innovation.
13. Centrais Eletricas Brasileiras SA Preference Shares Series B (BVMF: ELET6)
Total revenue of the company in 2019 (in millions of dollars): 2,100Total profits of the company in 2019 (in millions of dollars): 380.1Total assets of the company in 2019 (in millions of dollars): 1,785.3Total employees of the company in 2019: 829
Headquartered in Rio de Janeiro, this Brazilian power company is among the top global clean energy companies in the world. The company generates energy from solar, wind, nuclear, natural gas, and oil, though the top contributor would be hydroelectric power. More than 90% of Eletrobras’ installed capacity comes from sources with low greenhouse gas emissions.
Total revenue of the company in 2019 (in millions of dollars): 2,643.2Total profits of the company in 2019 (in millions of dollars): 380.1Total assets of the company in 2019 (in millions of dollars): 1,785.3Total employees of the company in 2019: 829
This US-based company has been providing cleaner fuels including biodiesel, renewable diesel as well as a mixture of the two known as REG Ultra Clean. The company operates 12 biorefineries dispersed across America as well as in Europe. It is also a part of the Fortune 1000 list of top companies ranked by revenue.
11. Hanergy Holding Group (Private)
Total revenue of the company in 2018 (in millions of dollars): 2,741Total profits of the company in 2018 (in millions of dollars): 1,563.7Total assets of the company in 2018 (in millions of dollars): 3,881.9Total employees of the company in 2018: 15,000
Although the Chinese multinational has yet to release its annual report for 2019 to the public, it still deserves a spot on this list of 15 biggest renewable energy companies and stocks. It is China's largest privately-held energy enterprise operating on projects of hydro, wind, and solar power. It is known for being the leader in thin-film solar technology.
Total revenue of the company in 2019 (in millions of dollars): 2,980Total profits of the company in 2019 (in millions of dollars): 772.8Total assets of the company in 2019 (in millions of dollars): 35,691Total employees of the company in 2019: 3,000
Known as one of the world's largest investors in renewable power, this Candian company operates in the wind, solar, and hydro power sectors of the renewable energy industry. Brookfield Renewable Partner’s parent company, Brookfield Asset Management (NYSE: BAM) is ranked at 155 on Fortune’s Global 500 Ranking. The company has assets spanning four continents, including countries like Canada, America, India, and China.
Total revenue of the company in 2019 (in millions of dollars): 3,063.1Total profits of the company in 2019 (in millions of dollars): 549.21Total assets of the company in 2019 (in millions of dollars): 7,515Total employees of the company in 2019: 6,600
First Solar is an American company established in 2001, most recognized for selling Photovoltaic Systems, and Photovoltaic Modules. The company has been ranked in Fast Company’s list of 50 Most Innovative Companies as well as Solar Power World’s list of Top Solar Contractors. First Solar has also recently pledged to power 100% of its global solar PV manufacturing operations with renewable energy by the year 2028.
Total revenue of the company in 2019 (in millions of dollars): 3,200Total profits of the company in 2019 (in millions of dollars): 230Total assets of the company in 2019 (in millions of dollars): 5,467Total employees of the company in 2019: 14,000
The next company on our list of 15 biggest renewable energy companies and stocks is Solar PV Module manufacturer, Canadian Solar. The company has subsidiaries in 20 countries while their products are bought by customers hailing from more than 150 countries. Recently, Canadian Solar announced its decision to use money raised ahead of a planned stock sale in China to add manufacturing capacity, aiming to double its module shipments in 2020.
Total revenue of the company in 2019 (in millions of dollars): 4,270Total profits of the company in 2019 (in millions of dollars): 780.2Total assets of the company in 2019 (in millions of dollars): 6,872.5Total employees of the company in 2019: 15,000
Beginning as a water manufacturer in 2006, this Chinese renewable energy company has made strides in just a little over a decade. JinkoSolar currently stands as the top solar panel manufacturer in the world by market share, distributing solar products to many countries. It was also named on Fortune’s list of 100 Fastest Growing Companies in the World in 2016.
Total revenue of the company in 2019 (in millions of dollars): 5,639 (revenue for renewable energy segment)Net income of the company in 2019 (in millions of dollars): 1,426Total assets of the company in 2019 (in millions of dollars): 51,516Total employees of the company in 2019: 5,000
A subsidiary of the Fortune 500 company NextEra Energy, NextEra Energy Resources is the world's largest generator of wind and solar renewable energy. The company develops, constructs, and operates many projects to generate energy from wind, solar, and nuclear power. They also offer energy storage and energy marketing among other services.
