Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 9

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
Chunk 9
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from $61.94 billion in 2024 to $98.86 billion in 2029, representing a compound annual growth rate (CAGR) of 9.5%.6

This growth is primarily driven by the increasing
global demand for electricity and a strong push towards renewable energy sources to mitigate climate change. Globally, renewable energy
capacity is anticipated to grow substantially by 2030, with utility-scale solar PV expected to constitute the majority of this newly added
capacity. Large-scale solar farms offer an efficient means of adding significant amounts of renewable energy to the grid, benefiting from
economies of scale and technological advancements. The integration of energy storage solutions with utility-scale solar projects is also
becoming an increasingly prevalent trend, aimed at enhancing grid stability and ensuring power availability even when solar generation
fluctuates.

Overall, the global utility-scale solar market
is demonstrating a consistent growth trajectory, fueled by favorable economics, supportive government policies, and the imperative to
transition to cleaner energy sources.

Global Microgrid Market:

Growing demand for dependable energy, integration
of renewable energy, energy security, regulatory backing, improvements in energy storage technology, and the requirement for sustainable,
decentralized power solutions are the main factors propelling the microgrid industry. A microgrid is a local electric system, which can
provide power either in parallel or isolation from electric grids. Shifting inclination from remote central station power plants to more
localized and distributed generation for enhanced reliability, resiliency, and energy in cities, communities, and campuses is projected
to have a substantial impact on market progress.

According to Market Digits, the global microgrid
market demonstrated significant value in 2022, reaching USD 35.1 billion, and is projected to experience substantial growth, potentially
reaching USD 108.1 billion by 2030.7 This represents a compound annual growth rate (CAGR) of 15.1%. Astute Analytica in April
2025 estimates the global microgrid market at USD 40.08 billion in 2024, with an even more optimistic projection of USD 191.01 billion
by 2033, indicating a robust CAGR of 19.28% during the period of 2025–2033. Research and Markets forecasts the global microgrid
market to exceed USD 163.17 billion in total revenues by 2033, growing from an estimated USD 41.69 billion in 2024 at a CAGR of 16.37%