Among sectors, the energy industry is growing in the worldwide market for carbon credits. Power is added to the grid through the use of solar or wind energy. This lowers the emissions of carbon dioxide and further replaces the electricity generated from conventional energy sources. These initiatives have the potential to provide carbon credits through Clean Development Mechanism (CDM) projects. Consequently, the energy sector is expanding and is expected to continue driving the global carbon credit market’s growth over the forecast period.
The worldwide market for carbon credits is predicted to reach US$ 145.04 billion by 2030 and grow at a compound annual growth rate (CAGR) of 24.4% between 2023 and 2030. This is because the demand for carbon credits is likely to rise due to global warming.
Due to the increased use of solar or wind energy in favour of more traditional energy sources in an effort to further reduce carbon dioxide emissions, the energy sector is predicted to keep a leading position on the basis of sector.
Based on geography, Europe is anticipated to maintain a leading position over the projection period because of the existence of nations like Germany and the United Kingdom that are regarded as significant purchasers of carbon credits. These nations purchase a significant amount of carbon credits globally.
Among the major companies in the carbon credit industry are Clear Sky Climate Solutions, Native Energy, 3 Degrees, Green Mountain Energy, Sterling Planet, Inc., WGL Holdings, Inc., terrapass, Enking International, and Cool Effect, Inc.
3Degrees and Merge Electric Fleet Solutions established a cooperation in November 2022 to provide knowledge and actionable insights to both new and existing fleet clients. 3Degrees intends to balance each EV charger with RECs and monetise charging of Merge during the clean fuel phases.
Johnson Controls and 3Degrees joined together in August 2022 to quicken the company’s transition to net zero. Through carbon reduction services, the enterprises will be able to accelerate their net zero ambitions through partnership.
Global market intelligence and consulting firm Coherent Market Insights offers customised research studies, syndicated research papers, and consulting services. In a wide range of industries, including aerospace and defence, agriculture, food and beverage, automotive, chemicals and materials, and about any other industry with conceivable sub-industry, we are renowned for our genuine reports and actionable insights. We add value for our clients by producing extremely precise and dependable reports. In addition, we’re dedicated to taking the lead in providing insights across a range of industries following COVID-19 and to keeping our clients satisfied with quantifiable, long-lasting outcomes.