Highlights from ACP’s Market Report 2024

American clean power saw nearly $80 billion in investment and supported 1.4 million jobs in 2024.
The clean power industry continued its steady expansion in 2024, delivering 49 gigawatts of new capacity—representing a 33% increase from 2023. This growth brought America’s total clean energy fleet to 313 GW with projects now operating in all 50 states. Clean power accounted for 93% of all new electricity capacity added to the grid last year. In a notable market development, 2024 marked the first time utility-scale solar and wind generation exceeded coal output, together providing nearly 16% of U.S. electricity.
This isn’t politics—it’s economics.
The markets have spoken: Fortune 500 giants including Amazon, Microsoft, Meta, and Google contracted 11 GW of clean power in 2024 alone—nearly matching Florida’s entire clean energy fleet. These companies are choosing clean energy for its competitive economics, reliability when paired with storage, and rapid deployment capabilities.
Manufacturing Renaissance
45 new or expanded manufacturing facilities came online in 2024, representing more than $9 billion in investment. This domestic supply chain growth is creating skilled, long-term jobs in industrial communities, reducing dependence on imported components, and strengthening American energy security. Many of these facilities are revitalizing former industrial sites and bringing new economic activity to regions that have experienced manufacturing decline.
Community Benefits
Wind and solar installations delivered around $4 billion in state and local tax payments and land-lease payments to rural communities in 2024 alone. These funds directly support local schools, roads, and essential services. In numerous rural counties, renewable energy projects have become significant contributors to the local tax base, providing stable revenue streams to communities.
Future Growth & Economic Return
With 174 GW in advanced development and representing 95% of the interconnection queue, clean energy is positioned to meet projected electricity demand growth of up to 50% by 2040. Analysis shows current energy tax credits deliver strong returns—driving $1.9 trillion in economic growth, creating 13.7 million jobs, and generating a 4x return on federal investment by 2035.
Clean energy continues to strengthen America’s energy security and economic prosperity across both Republican and Democratic districts alike.
👇 Scroll down for data from ACP’s new Clean Power Annual Market Report | 2024.