NEW REPORT: Clean Energy Contracts with Fortune 500 Companies Surge in 2024 

• In 2024 alone, the clean energy industry invested nearly $80 billion to deploy nearly 49 GW of new clean energy projects and build 45 manufacturing facilities
• New data shows industry supports 1.4 million American jobs—460,000 directly and nearly a million more in supply chains and supporting industries
  
• Clean energy power purchase agreements (PPAs) reached record levels in 2024, showing increasing demand for clean energy resources from economic sectors

WASHINGTON, D.C., May 14, 2025 – The American Clean Power Association (ACP) today released its Clean Power Annual Market Report | 2024. The data from ACP shows an industry critical to the viability of the American economy, supporting 1.4 million American jobs and investing nearly $80 billion last year.  

The top purchasers of clean energy include Fortune 100 and 500 companies, largely comprised of utilities and major tech companies. In 2024, Amazon, Microsoft, Meta, and Google collectively contracted 11.3 GW of clean power—nearly matching the total clean power capacity installed across Florida, the fifth largest clean power state in the U.S., and showcasing the criticality of clean energy to power the growing data center market. 

“Clean energy is fueling America’s economy and creating opportunities for American workers and communities all across the country,” said ACP CEO Jason Grumet. “Solar, wind, and battery storage are leading an all of the above energy future powered by affordable, reliable, and secure American resources.”

Key 2024 Highlights 

Rapidly Scaling and Deploying:  

• The clean energy industry invested nearly $80 billion to deploy nearly 49 GW of new clean power infrastructure. 
• 45 new manufacturing projects came online, representing more than $9 billion dollars of investment in domestic manufacturing. 
• For the first time, wind and utility-scale solar generation exceeded coal output, accounting for nearly 16% of U.S. electricity generation, marking a significant shift in the energy mix.
• Total generation in the interconnection queue at the end of 2023 was 2,367 GW, with over 95% represented by wind, solar, and storage.

Meeting the Moment of Rising Demand:  

• Building new clean power will be essential to meeting additional demand in the near- and medium-term, as clean energy resources are significantly quicker to deploy than traditional sources.
• The U.S. will need more than 900 GW of renewables and batteries and 60-100 GW of new gas capacity by 2040 to maintain grid reliability.

Powering the U.S. Economy:  

• The clean energy industry supports 1.4 million Americans with jobs—460,000 directly and nearly a million more in supply chains and communities.   
• Clean power companies have invested more than $600 billion over the past two decades, transforming America’s energy infrastructure and boosting local economies in all 50 states. 
• Power Purchase Agreement (PPA) announcements surged 56%, reflecting strong demand and market confidence. 

Discover more about American clean power’s historic year in the data-driven webpage. A public version of the 160-page full report is available, with the full report and underlying datasets available exclusively to ACP members.  

###