The industry achieved major milestones last year, but clean energy deployment must accelerate at a more rapid pace to reach a net zero grid by 2035.
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The clean power industry commissioned over 25.5 GW of new clean power in 2022—a decline of 15% compared to the record-breaking year of 2021. While short of expectations, the industry did capture the majority of the market clean power projects, representing an impressive nearly 80% of all new capacity.
2022 brought the challenges and growth potential facing the clean power industry into stark relief. President Biden signed the Inflation Reduction Act (IRA) into law on August 16. This unprecedented national commitment to clean power is the largest policy investment in clean energy on record. The IRA is set to catalyze clean energy growth, ultimately more than tripling annual installations of wind, solar, and battery storage by the end of the decade.
However, despite the positive prospects, the clean power industry faced a string of obstacles in 2022. Supply chain constraints, lengthy delays connecting projects to the grid, unclear trade restrictions, longstanding permitting obstacles, and uncertainty over IRA implementation hindered project development and investment activity.
ACP’s Clean Power Annual Market Report 2022 is a nearly 200-page comprehensive overview of key industry statistics, trends, and rankings from 2022.
ACP Members can download the full report via the download button above.
