The explosive growth of renewable energy has shaken up the energy industry over the last decade.
As the costs of solar and wind continue to fall and bottlenecks like storage capacity are diminished, the International Energy Agency predicts that renewable energy will comprise 40% of global power generation by 2040. In the next five years, the share of electricity generated by renewables worldwide is set to grow faster than any other source.
Last week, Thomson Reuters released its inaugural Energy 100 list, which evaluates companies in the sector (both traditional and renewable) based on eight criteria, including innovation, environmental impact, social responsibility, and risk management. The top companies go “beyond the balance sheet,” according to the report — in addition to their solid financials, they have created advanced sustainability programs, developed groundbreaking technologies, and benefited their surrounding communities.
Thomson Reuters created a sub-list of the top 25 renewable energy companies, which are generally smaller and younger than the energy giants on the main list. Eight of them are based in China, Hong Kong, or Taiwan.