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Growing crisis of power and a need for clean power resources are some of the key factors behind the increase in investments in renewable energy generation. Renewable energy sources such as wind, sun, and water not only generate electricity, but also help in the reduction of greenhouse gas emissions. Some of the renewable energy sources, which have become popular include biomass, ocean, and geothermal energy. Players in the renewable energy market are striving to reduce carbon emissions and improve energy security. This is because players are compelled by multiple changes and policies enforced by government across nations in a bid to reduce harmful emissions and focus more on cleaner sources of energy. However, the tariff for the electricity generated by renewable energy is very high.  This is one of the biggest challenges faced by industry players. Some of the leading players in the market are Pelamis Wave Power, Vestas Wind Power A/S, Yingli Solar, Enel Green Power, and Calpine Corporation.