GlobalData Predicts Impending US Renewable Energy Boom

Renewable energy capacity in the United States is still on track for dramatic growth, even as offshore wind projects face mounting political and regulatory pressure. New projections from GlobalData suggest that solar and onshore wind will continue reshaping the power sector over the next decade, outweighing near-term disruptions tied to federal policy shifts.

According to the data and analytics firm, total renewable generation capacity is expected to rise from roughly 414.5 gigawatts in 2024 to about 1.06 terawatts by 2035. Clean energy technologies are projected to account for most new power additions over that period, driven by a mix of long-term utility planning, sustained demand from large corporate buyers seeking low-carbon electricity, and state mandates.

Solar power is forecast to lead the expansion, with installed solar capacity projected to climb from approximately 231.4 gigawatts in 2024 to nearly 738 gigawatts by the middle of the next decade. Growth is expected to be strongest in regions such as California, Texas, and parts of the Midwest, where utility-scale projects, distributed generation programs, and public-sector procurement targets are accelerating deployment.

Onshore wind is also set to grow steadily, with capacity rising from around 156 gigawatts to nearly 269 gigawatts over the same period, particularly in high-resource states with established transmission infrastructure.

While onshore renewables surge ahead, offshore wind development has stalled. Federal actions throughout 2025 disrupted multiple projects, culminating in the suspension of five federally permitted offshore wind developments late in the year. Funding cuts affecting port upgrades and supply chain facilities further complicated the outlook, leaving developers facing higher costs and prolonged uncertainty.

Despite those setbacks, investment activity across the broader renewable sector remains strong. GlobalData estimates that spending on renewable projects in the United States could reach roughly $442 billion over the next five years. Energy sector analyst Mohammed Ziauddin said continued interest from corporate buyers, alongside long-term utility planning and state policy commitments, is keeping capital flowing into clean energy projects even amid policy volatility.

Cost pressures remain a challenge, however. Trade measures introduced last year have increased expenses for projects reliant on imported materials, including turbines, batteries, metals, and solar components. These rising costs have slowed timelines and forced some developers to rethink project scopes, particularly in capital-intensive segments like offshore wind.

In the meantime, conventional power sources continue to play a supporting role in the energy mix. Coal and oil capacity is steadily declining as older plants retire, while natural gas and nuclear power remain part of long-term planning. Gas-fired capacity is projected to grow modestly through 2035, and nuclear capacity is expected to edge higher as existing facilities extend operations.

Even with regulatory headwinds and higher costs, renewables are still positioned as the primary source of new electricity capacity in the United States. Solar and wind are expanding at scale, supported by policy and market demand, while gas and nuclear investments focus on maintaining system reliability over the long term.

The uptake of renewable energy is trickling down to end-use applications, such as those focused on by companies like Vision Marine Technologies Inc. (NASDAQ: VMAR).

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