What it holds
Renewable Power follows the money through the Clean energy bill of materials: the parts it takes to build it, and the companies that earn their revenue supplying them. Each company is read from its own reports, so a holding reflects what it actually sells into the theme, not what it says about it.
| Part | What it covers |
|---|---|
| Renewable Power Generation | renewable power producers, solar equipment, wind equipment |
How it breaks down
- United States71%
- Canada13%
- Germany8%
- China8%
- Israel0%
- Large cap ($10bn to $200bn)24%
- Mid cap ($2bn to $10bn)43%
- Small cap (under $2bn)33%
Shares of the strategy as of the data date.
Largest companies
| Company | Listing | Market value |
|---|---|---|
| First Solar | FSLR.XNAS | $19 billion |
| Canadian Solar | CSIQ.XNAS | $650 million |
| Enphase Energy | ENPH.XNAS | $3 billion |
| Brookfield Renewable Partners L.P. | BEP-UN.TO | $8 billion |
| Clearway Energy | CWEN.XNYS | $7 billion |
| Array Technologies | ARRY.XNAS | $548 million |
| Nextpower | NXT.XNAS | $11 billion |
| Nordex SE | NDX1.XETRA | $10 billion |
| Tongwei | 600438.SHG | $8 billion |
| Solaredge Technologies | SEDG.XNAS | $2 billion |
| T1 Energy | TE.XNYS | $775 million |
| Ormat Technologies | ORA.XNYS | $6 billion |
| Blx.To | BLX.TO | $3 billion |
| Shoals Technologies Group | SHLS.XNAS | $1 billion |
| OY Nofar Energy | NOFR.TA | $2 billion |
The market
Investment in solar, wind and other renewable projects; half-year figure, not annual
BloombergNEF, H1 2025Solar investment, utility-scale and rooftop, expected in 2025
IEA, 2025Renewable energy market
IMARC, 2025Renewable energy market; forecast to USD 1,939.3 billion (growth, a year)
IMARC, 2026–2034The vendor market-value estimates (USD 1.03–1.31 trillion) cover broader renewable energy markets and their scopes are unclear, so they differ from each other and from the segment. The agency investment figures (BNEF, IEA) measure annual or half-year investment flows, not market value, and capacity figures in GW are excluded because they are not market-size measures.
All 8 published estimates, with sources
| What it measures | Figure | Year | Source |
|---|---|---|---|
| Investment in solar, wind and other renewable projects (growth, a year) | +10% | H1 2025 vs H1 2024 | BloombergNEF |
| Investment in solar, wind and other renewable projects; half-year figure, not annual | $386bn | H1 2025 | BloombergNEF |
| Renewable energy market | $1 trillion | 2025 | IMARC |
| Renewable energy market | $1.1 trillion | 2025 | Fortune Business Insights |
| Renewable energy market including hydropower, wind, solar, bioenergy and others | $1.3 trillion | 2024 | Market.us |
| Renewable energy market including hydropower, wind, solar, bioenergy and others; forecast to USD 4,393.6 billion (growth, a year) | +13% | 2025–2034 | Market.us |
| Renewable energy market; forecast to USD 1,939.3 billion (growth, a year) | +7.0% | 2026–2034 | IMARC |
| Solar investment, utility-scale and rooftop, expected in 2025 | $450bn | 2025 | IEA |
Questions
- What is Renewable Power?
- Solar, wind and hydro producers and equipment.
- What does Renewable Power hold?
- Listed companies that earn their revenue from the parts it takes to build Electrification Supercycle: Renewable Power Generation. 15 companies as of 2026-10-28.
- What is not in Renewable Power?
- Solar panels, inverters and wind turbines: Renewable Power Generation, not Energy Storage & Grid Flexibility; distributed generation holds only non-renewable onsite generation and integrated systems Solar and wind inverters and converters: Renewable Power Generation, not Power Solutions & Components; UPS, data center power supplies and discrete semiconductors: Power Solutions & Components
Sources
Every part of the bill of materials is researched from published industry sources, and every company from its own annual reports and exchange data. Nothing is estimated that cannot be sourced.
Industry research: about.bnef.com/insights/clean-energy/bloombergnef-finds-glob · iea.blob.core.windows.net/assets/64594543-cf6e-4fd9-8238-d3c · rmi.org/resources/five-takeaways-from-ieas-report-on-world-e · industrialinfo.com/iirenergy/industry-news/article/iea-globa · winssolutions.org/renewable-investment-h1-2026-bnef/
What it is not
Where an item could belong to two parts, these rules decide which owns it; items outside every part are not counted.
- Solar panels, inverters and wind turbines: Renewable Power Generation, not Energy Storage & Grid Flexibility; distributed generation holds only non-renewable onsite generation and integrated systems
- Solar and wind inverters and converters: Renewable Power Generation, not Power Solutions & Components; UPS, data center power supplies and discrete semiconductors: Power Solutions & Components
Not investment advice. Figures are dated and sourced; ThematIQ does not estimate figures it cannot source.