The clean energy industry is experiencing unprecedented growth, driven by record investments, technological advancements, and supportive policies. According to Deloitte's 2025 Renewable Energy Industry Outlook, renewables accounted for nearly 90% of all new power generation capacity additions in the first nine months of 2024, up from 57% in the same period in 2023[1].

Utility-scale solar and wind capacity additions led the way, with solar capacity expected to rise by a record-breaking 38.4 GW to 128.2 GW by the end of 2024, and wind capacity expected to increase by 6.5 GW to 153.8 GW[1]. Battery storage also saw significant growth, with a record-breaking 14.9 GW added in 2024, bringing the total to 30.9 GW[1].

The industry's growth is also driven by increasing demand from cleantech manufacturing, artificial intelligence, and carbon industries. Deloitte estimates that these industries will add 57 GW of demand by 2030, with cleantech manufacturing plants alone expected to add 11 GW of demand[1].

Recent market movements have seen significant investments in clean energy projects, with California and Texas leading the way. According to the January 2025 Clean Energy Boom Report, California has seen 46 new clean energy projects announced since August 2022, with investments totaling $25.7 billion and creating 9,591 jobs[3]. Texas has seen 61 new projects announced, with investments totaling $17.17 billion and creating 26,476 jobs[3].

Emerging competitors in the industry include startups focused on naturally occurring hydrogen and advanced solar cell technology. Deloitte's survey respondents believe that green hydrogen, long-duration energy storage, and advanced solar cell technology will play a significant role in meeting rising power demand in the next few years[1].

Regulatory changes, such as the Inflation Reduction Act, have provided a boost to the industry, with over two-thirds of respondents to Deloitte's survey believing that the federal government most significantly shapes policies that drive the energy transition[1]. However, the incoming administration may revisit proposed standards, potentially impacting the industry's growth.

In response to current challenges, industry leaders are focusing on integrating low-carbon technologies with traditional operations, repurposing facilities, and leveraging shared utilities. Companies such as Chevron and Marathon Petroleum Corporation are forming partnerships with agricultural firms to secure a consistent feedstock supply and strengthen their biofuel supply chains[2].

Compared to previous reporting, the industry's growth has accelerated, with record investments and capacity additions. The industry's focus on technological innovation, supply chain development, and policy support has positioned it for continued growth in 2025 and beyond.

Overall, the clean energy industry is experiencing a significant boom, driven by record investments, technological advancements, and supportive policies. Industry leaders are responding to current challenges by integrating low-carbon technologies, repurposing facilities, and leveraging shared utilities. As the industry continues to grow, it is likely to play an increasingly important role in meeting rising power demand and driving the energy transition.