The world is quickly switching to renewable energy, as a way of environmental conservation and mitigation. As a result, there has been an influx of new players in the industry, whose main goal is to provide clean and sustainable energy. Judging by how fast these companies are growing, we can deduce that most people are of the idea of using environmental friendly energy.
According to the International Energy Agency, renewable energy will account for 40% of the world’s energy by 2040. Sources of renewable energy range from natural sources, such as solar, water and wind to biofuels, such as corn and wheat. Here are the top 5 renewable energy companies:
1. Canadian Solar Inc. (CSIQ)
Incorporated in 2006, the CSIQ is an energy company specialized in solar energy. It provides solar powered products and services and offers system solutions inover 20 nations across six continents.It produces highly efficient solar panels that work in a wide range of temperatures, which has seen it rise to the top three revenue earners in the industry.
One of its notable acquisitions was Recurrent Energy in 2015. This resulted to an overall increase in output of the company to 12GW. One of its outstanding initiatives include donating solar panels to sub-Sahara Africa to replace kerosene lamps. This initiative by Canadian Solar also included Virunga National Park in Rwanda, which is the home of the endangered mountain gorillas and also a UNESCO World Heritage site. The company donated solar panels to replace diesel usage in the heritage site.
2. First Solar Inc.
This company is based in Arizona and is a manufacturer of solar panels. It is the number one provider of photovoltaic (PV) solar technology in the world, producing a minimum of 8GW. Operating in six continents, it boasts of the largest PV power plants set up around the world, including on the island of Samoa. Its state of the art thin-film panel design includes a tiny footprint of carbon, which makes its panels more environmental friendly than the normal solar panels.Furthermore, its technology produces more than 90% less greenhouse gas emissions than other sources of electricity.
3. CropEnergies AG
This German company is the European leader when it comes to production of sustainable bioethanol. It produces approximately 1.3 million cubic meters of bioethanol annually. This bio-fuel is now predominantly used in Germany, the UK, France and Belgium to power modern production facilities. It also produces annually 150 cubic meters of neutral alcohol, which has various applications in the pharmaceutical, cosmetics and beverage industries. Compared to fossil fuel, this company produces 70% less CO2 emissions.
4. Vestas Wind Systems
This Danish manufacturer is the world’s leading developer of wind energy systems. The company designs, produces, installs and services wind turbines in 79 countries. No other company in the history of wind energy systems has come close to the number of installations this company has done over the years. As it stands now, Vestas controls more than 17% of the global market share, which makes it the main player in the wind power industry. It produces a combined total capacity of 97GW of wind power.
5. Hanergy Thin Film Power Group Limited
This Hong Kong based company is among the new entrants in the sustainable energy industry, with less than ten years under its resume. It specializes in the production of photovoltaic solar modules based on amorphous silicon and copper indium gallium selenide (CIGS) thin film power technologies. In addition, it is also involved in the construction of solar power plants, household systems, rooftop power stations and also engages in the build and sell of commercial systems in the energy niche.
Due to its rapid expansion, the company has done a series of acquisitions including Solibro in Germany, Global Solar Energy (USA) and MiaSole (USA). Hanergy (through its US subsidiary, the Alta Devices) recently came into partnership with the automobile giants, Audi to produce automobile vehicles using solar energy.
The prototype vehicle of this joint partnership integrates the thin film solar technology on the panoramic roof of selected models of the German automaker. The energy generated from the solar is then used to power the electrical system of the vehicle and in the process, improving its performance. This move was aimed at facilitating Audi’s vision of“emission-free premium mobility of the future”.