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Renewable Electricity Generation Market to Grow by USD 215.77 Billion (2024-2028) as Tax Incentives Drive Growth; AI-Driven Market Transformation Report – Technavio

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NEW YORK, Nov. 1, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global renewable electricity generation market size is estimated to grow by USD 215.77 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  11.5%  during the forecast period. Tax incentives for renewable electricity generation projects is driving market growth, with a trend towards integration of renewable energy and storage. However, high initial cost of infrastructure and technology  poses a challenge.Key market players include Acciona SA, Adani Green Energy Ltd., BP Plc, Brookfield Business Partners LP, Canadian Solar Inc., Constellation Energy Corp, Duke Energy Corp., Enbridge Inc., GE Vernova Inc., Iberdrola SA, Innergex Renewable Energy Inc., Invenergy, Orsted AS, Plug Power Inc., Schneider Electric SE, Siemens Gamesa Renewable Energy SA, Suzlon Energy Ltd., Tata Power Renewable Energy Ltd., and Vestas Wind Systems AS.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Renewable Electricity Generation Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 11.5%

Market growth 2024-2028

USD 215.77 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

11.2

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key countries

China, US, India, Germany, Japan, Canada, Italy, UK, Mexico, and South Korea

Key companies profiled

Acciona SA, Adani Green Energy Ltd., BP Plc, Brookfield Business Partners LP, Canadian Solar Inc., Constellation Energy Corp, Duke Energy Corp., Enbridge Inc., GE Vernova Inc., Iberdrola SA, Innergex Renewable Energy Inc., Invenergy, Orsted AS, Plug Power Inc., Schneider Electric SE, Siemens Gamesa Renewable Energy SA, Suzlon Energy Ltd., Tata Power Renewable Energy Ltd., and Vestas Wind Systems AS

Market Driver

The integration of renewable energy and storage is a significant trend in the renewable electricity generation market. Renewable energy sources, such as solar and wind, are intermittent, making the combination with advanced storage solutions crucial for ensuring a stable and reliable electricity supply. An example of this trend is the Green River Energy Center in Utah, which boasts a 400 MW solar production capacity paired with a 1,600 MWh battery storage system. This large-scale project’s integration of solar power generation and storage addresses the challenge of renewable energy’s variability, enhancing grid stability and reliability. The European Bank for Reconstruction and Development’s Europe and Central Asia Renewable Energy Scale-up (ECARES) program, a USD2 billion initiative, is another global effort to add 15 GW of renewable energy capacity and reduce carbon emissions significantly. By financing enabling policies, institutional frameworks, and grid integration, the program supports the clean energy transition and improves energy security and affordability. These hybrid projects, such as the Green River Energy Center, demonstrate the feasibility and benefits of combining renewable energy with storage, paving the way for future advancements in the industry. The ability to effectively store energy addresses a major challenge of renewable energy, making the market for renewable electricity generation poised for growth during the forecast period. 

Renewable electricity generation is a growing business trend as industries and consumers seek alternative energy sources for various reasons. Renewable energy, such as solar, wind, hydropower, and biogas, offers several benefits including flood control, clean drinking water, and irrigation support. These sources also produce low-cost electricity and help reduce greenhouse gas emissions and carbon footprint. The demand for renewable energy is increasing due to emissions regulations and the need for low-carbon fuels. Solar power projects, including solar PV installations and solar industry growth, are leading the way with commercial, industrial, and residential applications. Utility projects and unconventional power generation from sunlight, wind, rain, tides, waves, and geothermal heat are becoming more viable and cost-effective. Renewable energy production is essential for energy security and reducing reliance on fossil fuels like coal, oil, and natural gas, which contribute to climate change. 

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 Market Challenges

The renewable electricity generation market, particularly in the geothermal and ocean energy sectors, faces significant challenges due to high initial costs for infrastructure and technology. These projects demand substantial capital investment, especially for offshore installations, transmission infrastructure, and ongoing maintenance. Marine energy projects, such as tidal and wave energy systems, require complex engineering solutions to withstand harsh marine environments, adding to the expense. Ocean Thermal Energy Conversion (OTEC) technology, in particular, necessitates specialized equipment and deep-sea infrastructure construction, making it costly to develop. Financing for these projects remains limited due to perceived risks, including technological readiness, uncertain regulatory frameworks, and a lack of proven commercial-scale operations. This hesitancy creates a financial barrier that impedes progress. Regulatory hurdles, involving coordination between multiple government agencies, can lead to delays and unclear permitting requirements for offshore energy projects, further increasing costs and complexity. Addressing these challenges is crucial for the successful scaling and commercialization of geothermal and ocean energy projects, enabling them to contribute more significantly to the global renewable energy mix. The high initial costs associated with these projects are expected to hamper the growth of the global renewable electricity generation market during the forecast period.Renewable energy generation is a growing business sector focused on harnessing sunlight, wind, rain, tides, waves, geothermal heat, and other natural sources to produce electricity. However, challenges exist. Environmental impact is a concern, but renewables offer a low-carbon economy solution, reducing greenhouse gas emissions from fossil fuels like coal, oil, and natural gas. Climate change and energy security drive the need for renewables, as fossil fuel reserves are finite. Renewable energy targets and feed-in tariffs encourage investment. Smart grids and energy efficiency tools help manage energy demand and distribution costs. EVs, V2G, and renewable power sources like hydroelectric, wind, solar, geothermal, and bioenergy are key players. Power outages and emissions intensity are challenges, but renewable energy plants offer energy self-sufficiency and a path to energy independence. Gas-based power and coal-based power generation face increasing competition. The renewable industry continues to innovate, driving down costs and improving efficiency.

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Segment Overview 

This renewable electricity generation market report extensively covers market segmentation by  

Type 1.1 Solar1.2 Wind1.3 Hydropower1.4 Biomass1.5 OthersEnd-user 2.1 Residential2.2 Industrial2.3 CommercialGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Solar-  The renewable electricity generation market is experiencing substantial growth, with solar power being a major contributor. Solar power projects are becoming increasingly common to meet the demand for clean and sustainable energy. One notable example is the Green River Energy Center in Utah, which combines solar production with energy storage, boasting a 400 MW solar capacity and a 1,600 MWh battery storage system. In Europe, solar power projects are also on the rise, such as eight Finnish PV projects with a combined capacity of 282.77 MW, including the Loukkaanaro solar park, a 20 MW ground-mounted installation in Utajarvi, set for completion by 2025. These projects demonstrate the importance of integrating solar power with energy storage for maintaining a consistent electricity supply and reducing CO2 emissions. The solar power segment in the global renewable electricity generation market is characterized by large-scale projects utilizing advanced technologies for energy reliability and sustainability. This trend towards solar power adoption is expected to continue, making it a crucial component of the renewable energy mix in the future energy landscape.

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Research Analysis

Renewable electricity generation refers to the process of producing electricity from natural sources such as sunlight, wind, rain, tides, waves, geothermal heat, and biomass feedstock. Renewable energy is becoming increasingly important as the world transitions away from fossil fuels like coal, oil, and natural gas to reduce greenhouse gas (GHG) emissions. Renewable power sources, including solar power generation and wind energy, offer several advantages over traditional coal-based power generation, such as lower emissions, sustainability, and energy self-sufficiency. However, renewable energy plants face challenges such as environmental impact, electricity distribution costs, power outages, and the need for emissions regulations. Hydropower systems and unconventional power generation from tides, waves, and geothermal heat are also part of the renewable energy landscape. The renewable energy industry is growing rapidly, driven by increasing demand for low-carbon fuels and the need to address climate change. Renewable energy can also provide additional benefits such as flood control and the potential for energy independence. Despite these advantages, renewable energy still faces challenges, including the intermittency of some sources and the need for energy storage solutions.

Market Research Overview

Renewable electricity generation refers to the process of producing electricity from natural sources such as sunlight, wind, rain, tides, waves, geothermal heat, and biomass. These sources offer a sustainable alternative to traditional fossil fuel-based power generation from coal, oil, and natural gas. Renewable energy is essential for addressing climate change, reducing greenhouse gas emissions, and promoting a low-carbon economy. Smart grids and energy efficiency measures, including electric vehicles and vehicle-to-grid technology, play a crucial role in integrating renewable energy into the power system. Hydroelectric power, wind power, solar energy, geothermal energy, and bioenergy are the primary renewable power sources. Renewable energy targets, feed-in tariffs, and emissions intensity regulations encourage the development of renewable energy plants and the transition away from coal-based power generation. The renewable energy industry includes various sectors, including industrial, commercial, and residential, and encompasses utility-scale projects and small-scale installations such as solar PV systems and biogas plants. Renewable energy demand continues to grow, driven by the need for low-cost electricity, energy security, and the search for alternative energy sources. The renewable energy sector also offers significant economic opportunities and contributes to flood control, clean drinking water, and irrigation support. However, challenges such as electricity distribution costs, power outages, and emissions regulations must be addressed to ensure a smooth transition to a renewable energy future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSolarWindHydropowerBiomassOthersEnd-userResidentialIndustrialCommercialGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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Technology

Football Tournament Season Sparks Global Social Connection Surge as 3Fun Reports Growth Across Key Markets

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NEW YORK, July 18, 2026 /PRNewswire/ — As the World Cup enters its final stage and fans celebrate across the globe, new data from 3Fun, the leading dating app for open-minded singles and partners, reveals that the World Cup’s impact extends far beyond the stadium. The tournament has ignited a massive surge in global social activity, with users increasingly turning to the platform to translate sporting euphoria into personal connections.

The “Celebratory Intimacy” Effect: Why Winning Drives Matching

Psychological research has long suggested that major sports victories do more than just boost national pride; they influence human biology and intimacy. Studies indicate that watching a favorite team win can temporarily elevate testosterone levels in fans, leading to a surge in sexual desire and “celebratory intimacy”. This theory is vividly reflected in 3Fun’s latest performance metrics.

Compared with the previous 20-day period, 3Fun saw a 6.13% increase in Daily Active Users (DAU) during the peak of the World Cup season (June 23 – July 12), adding more than 275,000 active participants. The platform’s “heat” was further evidenced by an additional 446,491 messages sent, while the user match rate jumped by 5.71%, resulting in nearly 50,000 new connections.

Spain and Argentina Lead the “Lust for Victory”

The data shows a direct correlation between success on the pitch and activity on 3Fun. Nations with deep football cultures and strong tournament performances saw the highest growth:

Spain: Witnessed a staggering 37.56% surge in new users.Argentina: Followed with a 26.62% increase.France & Mexico: Saw growth rates of 25.44% and 21.42% respectively.

In the U.S., cities like Houston (+8.98%) and New York (+7.45%) led the way. This trend aligns with a broader cultural shift: recent 3Fun data reveals that 69% of Americans report a growing interest in non-traditional relationships, with 77% of seekers preferring dating apps to find compatible partners.

Digital Jet-Setting: 3Fun’s “Roaming” Feature Becomes a Fan Favorite

While millions traveled for the games, many more “traveled” virtually. 3Fun’s new Roaming feature, currently in gray-scale testing, allows users to explore connections beyond their current location by virtually discovering communities in other cities.

The top 10 “Roaming” destinations during the Football Tournament  season reveal where the world’s social interest was concentrated:

Sao Paulo, Brazil (17.35% of total roaming volume)New York, USA (14.82%)Las Vegas, USA (11.37%)Los Angeles, USA (11.19%)London, UK (9.89%)Rio de Janeiro, Brazil (7.40%)Houston, USA (7.36%)Dallas, USA (7.18%)Miami, USA (6.85%)Chicago, USA (6.60%).

The dominance of Brazilian cities like Sao Paulo and Rio de Janeiro highlights a “digital pilgrimage” to the spiritual home of football, where users sought to connect with the local energy and like-minded fans.

3Fun Insight: Connection Beyond the Game

“Major global events like the World Cup bring people together far beyond the borders of the pitch,” said Daniel Morgan, 3Fun’s Director of Social Trends. “Our data shows that users aren’t just looking for scores; they are looking for meaningful, shared experiences. Whether through virtual roaming or local matching, these events create unique windows for people to explore their desires in a safe, celebratory, and inclusive community”.

Daniel further noted, “With 72% of users noticing growing acceptance of diverse relationship styles, global sports events such as the World Cup represent a moment when people feel more open to meeting others and exploring new forms of connection”.

About 3Fun: With over 10 million downloads and 3 million verified active users worldwide, 3Fun is the leading dating app for open-minded singles and partners to meet like-minded people. The platform provides a safe and inclusive space to explore ethical open relationships and polyamory, fostering community and connection without judgment. 

Disclaimer: 3Fun is not affiliated with, endorsed by, or sponsored by FIFA, the World Cup, or any official World Cup organizing body. All references to the tournament are descriptive or for informational and topical context only.

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SOURCE 3Fun

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