Renewable energy sources will grow the most during the next two years, with about 7 GWs of new wind capacity and 29 GWs of new solar PV capacity being installed in 2023. These additions will result in renewable energy resources other than hydropower, accounting for 19% of generation in 2024 compared with 15% in 2022. Here are a few companies that are also thriving due to solar modules. First Solar ( FSLR - Free Report ) continues to expand its operation and cater to the rising demand from customers. It will have a global annual manufacturing capacity of more than 20 GWs by 2025. It is innovating and providing high-quality modules to its customers. First Solar's Series 6 solar modules are very efficient. The company is investing heftily in the production ramp-up of this module to expand its manufacturing capacity. Further, First Solar's modules use less water, energy and semiconductor material, which means they result in 2.5 times lower carbon footprint.