Wind energy is set to see a slowdown in growth, with developers expected to connect 160 gigawatts (GW) of wind projects globally by 2026, a 6% decline from previous estimates, largely attributed to a decrease in activity in China. Despite advancing technology and strong government support, rising material costs, especially for steel, and increased tariffs are creating significant challenges for renewable energy developers. Meanwhile, the global electric vehicle (EV) market is projected to reach approximately $6.5 trillion by 2030, with nearly 1.75 million EVs sold in March 2026 alone.
Key players in the U.S. alternative energy industry include Bloom Energy (BE), FuelCell Energy (FCEL), and Montauk Renewables (MNTK). Bloom Energy reported a 130.4% increase in revenue year-over-year in its Q1 2026 results, reaching $751.1 million, while Montauk Renewables achieved nearly 1.4 million metric million British thermal units of renewable natural gas production in the same period. However, FuelCell Energy reported a loss of 52 cents per share, despite a 61% improvement year-over-year.
Overall, the Zacks Alternative Energy industry holds a favorable outlook, ranked #72 among over 244 Zacks industries, indicating strong near-term prospects despite the current labor and material supply challenges impacting project timelines and costs.
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