Guidehouse Insights Estimates Global Market for 24/7 Carbon-Free Electricity Will Grow to Nearly $15 Billion by 2033

A new report from Guidehouse Insights assesses the market for hourly matched PPAs in 24/7 carbon-free electricity (CFE).

Hundreds of corporations, organizations, and governments around the world are considering adopting 24/7 CFE, a new and increasingly popular concept. CFE occurs when electrical energy is produced from renewable resources through granular matching—so CFE sources provide every kilowatt-hour of electricity consumption, every hour of every day. An energy buyer wanting to claim 24/7 CFE certification would need to purchase a volume of granular certificates via power purchase agreements (PPAs), green tariffs, or unbundled renewable energy certificates or energy attribute certificates.
According to a new report from Guidehouse Insights, the value of the 24/7 CFE market is expected to be $5.5 billion in 2024, growing at a compound annual growth rate (CAGR) of 11.4% to $14.7 billion between 2024 and 2033.

“The model has increasingly appealed to large energy buyers looking to decarbonize the electrical grid and meet aggressive sustainability targets,” says Bitania Yemane, research analyst with Guidehouse Insights. “Through government policies and AI, registries are looking to expand their tracking capabilities while corporations are committing to the procurement of renewable energy sources such as wind and solar.”

While barriers to 24/7 CFE adoption remain, such as insufficient marketplace liquidity, the transition to hourly renewable energy matching continues growing as corporations fill the gaps with cleaner energy every hour of the day, according to the report.

The report, 24/7 Carbon-Free Electricity Market, focuses on the market for hourly matched PPAs in 24/7 CFE. Included in this study are market issues associated with 24/7 CFE, such as opportunities and implementation challenges. Global market analyses for capacity and revenue, segmented by segment and global region, extend through 2033. The report also examines the key technologies related to the 24/7 CFE market and the competitive landscape. An executive summary of the report is available for free download on the Guidehouse Insights website

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