The renewable energy market is the largest segment of the energy transition. The renewable energy market includes solar, wind, hydropower, biomass, and geothermal. These sources are naturally replenished and emit little to no greenhouse gases. As technology costs have fallen, the renewable energy market has become the default choice for new power generation in most of the world. The renewable energy market is no longer a niche; it is the mainstream.

The broader energy transition market includes this segment. The renewable energy market is dominated by "solar photovoltaics" (PV) and "wind power." The renewable energy market for "utility-scale" solar farms and onshore wind is the most cost-competitive. The renewable energy market for "offshore wind" is growing rapidly, as turbines get larger and move into deeper water. The renewable energy market for "distributed" solar (rooftop) is also significant.

The renewable energy market for "hydropower" is mature, providing baseload and flexibility. The renewable energy market for "pumped storage hydropower" (PSH) is the largest source of grid storage. The renewable energy market for "run-of-river" hydropower (no reservoir) has lower environmental impact. The renewable energy market for "small" and "micro" hydropower serves remote communities.

The renewable energy market for "biomass" includes solid (wood pellets), liquid (biofuels), and gaseous (biogas). The renewable energy market for "biomass" is controversial, as it can compete with food production and lead to deforestation if not sustainably sourced. The renewable energy market for "waste-to-energy" (burning municipal solid waste) is another segment. The renewable energy market for "biogas" from landfills and digesters is cleaner.

The renewable energy market for "geothermal" is geographically limited but provides consistent baseload power. The renewable energy market for "enhanced geothermal systems" (EGS) could expand its reach. The renewable energy market for "direct-use" geothermal (heating) is also important. The renewable energy market for "marine" energy (tidal, wave) is still nascent.

Looking ahead, the renewable energy market will see the integration of "floating solar" on reservoirs and lakes. The renewable energy market for "agrivoltaics" (combining solar with agriculture) will reduce land use conflict. The renewable energy market for "repowering" (replacing old wind turbines with new, larger ones) will increase output. As storage costs fall, the renewable energy market will provide an increasing share of grid electricity.

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