NEW REPORT: Five Years’ Worth of Clean Energy Investments Announced in Less Than Nine Months
Apr 17 2023
Findings Coincide with ACP’s Annual D.C. Fly-In, Advocating for Commonsense Permitting Reform to Protect $150 Billion in Clean Energy Investments
WASHINGTON, D.C., April 17, 2023 – The American Clean Power Association (ACP) today detailed over $150 billion in capital investment announced for utility-scale clean energy projects and manufacturing facilities since federal incentives were signed into law last August. This is equivalent to five years’ worth of American clean energy investment, surpassing total investment into U.S. clean power projects commissioned between 2017 – 2021.
The new Clean Energy Investing in America report details several other landmark achievements for the industry, including announcements of new jobs in the sector, clean power project capacity, and consumer savings.
The report comes during American Clean Power Week, as ACP and its member companies unite in Washington and across the country to advocate for federal permitting reform to protect these generational investments and supercharge the clean energy economy.
“The clean energy transition is racing ahead. American companies are making massive investments that are increasing American competitiveness and revitalizing the manufacturing sector,” said Jason Grumet, CEO of American Clean Power. “But we cannot build a strong, modern, and resilient economy absent dramatic improvement in the permitting of new energy infrastructure. The American private sector has the technology, resources, and workforce to build a clean energy economy and deliver affordable, reliable, clean power to American families and businesses. Now we need Congress to create a permitting system that is equal to the challenge and designed to succeed.”
American manufacturing plants comprise a significant portion of the announced investment and are poised to change the landscape of American manufacturing: Since August, 47 new or expanded grid-scale clean energy manufacturing facilities have been publicly announced in the U.S., bringing with them an expected 18,000 new American jobs.
Alongside massive investment, the report details announcements of over $4.4 billion in savings for over 24 million utility customers.
Highlights from the report include:
- 47 announcements of new, expanded, or re-opened utility-scale manufacturing facilities:
- 27 solar manufacturing facilities
- 10 battery storage manufacturing facilities
- 8 wind manufacturing facilities
- 2 offshore wind manufacturing facilities
- 18,000 new American manufacturing jobs
- Over $150 billion in announced capital investment
- Nearly 96,000 MW of announced clean energy capacity
- $4.4 billion in announced consumer savings
- 24 million Americans served by utilities who announced consumer savings
- States that will see new or expanded factories include Alabama, Arizona, Colorado, Georgia, Iowa, Michigan, Minnesota, New Mexico, New York, Ohio, Tennessee, and Texas, while other locations remain undetermined.
New federal incentives for clean energy are expected to double the clean energy workforce and power the equivalent of every home in America by 2030.
But the report warns that the once-in-a-generation opportunity to significantly build out clean energy resources must be accompanied by expediting and streamlining the permitting process. Failure to do so will put 100 GW of clean energy at risk of significant delay, along with 150,000 jobs.
Today’s report is the second installment in a series of Clean Energy Investing in America reports – analyses of the new U.S. clean energy landscape. The report is available to the public here.