In just the last three months, over $40 billion of new grid-scale clean energy investments have been announced, a new report shows – the same amount as the total investment estimated for all clean energy projects installed in 2021. The Clean Energy Investing in America report, released today by the American Clean Power Association (ACP), is an analysis of the new U.S. clean energy landscape.
Alongside significant private investment, 20 new grid-scale clean energy manufacturing facilities have been announced in the U.S., bringing with them an expected 7,000 new American jobs.
“As a new era dawns in clean energy, America is laying the foundation to become a manufacturing powerhouse,” says ACP Interim CEO and Chief Advocacy Officer JC Sandberg. “This growing sector will create thousands of good paying jobs in communities across the U.S. and will help reduce dependence on foreign energy sources to meet our domestic needs.”
The new report also revealed expected consumer savings of over $2.5 billion announced by utility companies that provide electricity to over 15 million Americans. Companies explicitly tied these savings to federal incentives that make new project investment less expensive, meaning utilities can rely less on customer rate increases in order to fund projects.
“It is crystal clear that federal support for clean energy is already having a positive impact on the American economy and on the American people,” continues Sandberg.
The report also demonstrates that incentives approved by Congress earlier this year are being felt across the country. From Wisconsin to Texas, and Alabama to Colorado, the clean energy industry is building utility scale projects and manufacturing facilities that put America on a path to a clean energy future.
“To ensure the full potential of these investments and facilities, we urge the Administration and Congress to continue improving trade policies, enacting common sense permitting reform, and finalizing effective tax implementation,” concludes Sandberg.
Twenty new clean energy manufacturing facilities have been publicly announced, including 12 new solar manufacturing facilities, an over 300% increase in solar module manufacturing capacity, 22 GW in new solar module or cell manufacturing capacity, six new grid-scale battery storage manufacturing facilities, one reopening and one expansion of wind power manufacturing facilities, and 6,850 new jobs publicly announced.
States that will see new or expanded facilities include Alabama, Arizona, Colorado, Georgia, Iowa, Michigan, Minnesota, New York, Ohio, Tennessee and Texas, while other locations remain undetermined. Over $40 billion in capital investment has been announced, split evenly between utilities and independent power producers. There has been $2.5 billion in consumer savings announced with 15 million Americans serviced by utilities who announced consumer savings. Over 13 GW of new clean energy capacity has been released.
Read ACP’s Clean Energy Investing in America report here.