Clean energy industry announces $500 billion in new investments

A new report released on Aug. 7 by the American Clean Power Association (ACP, Washington, D.C., U.S.) shows that, in the last 2 years, the U.S. clean energy industry has announced $500 billion in new investments, spurring the U.S. economy and creating tens of thousands of new jobs.

ACP’s 2024 “Clean Energy Investing in America” report finds that the industry is leading a manufacturing renaissance, with plans to build or expand over 160 domestic manufacturing facilities along with announcements of more than 100,000 new manufacturing jobs nationwide.

“These historic investments are providing a powerful engine for job creation across the nation,” says ACP CEO Jason Grumet. “As demand for electricity continues to rise, clean power is answering the call and propelling a new era for American manufacturing. While recent progress is nothing short of remarkable, our ability to deploy new capacity with adequate speed and scale requires dramatic efficiency improvements in federal, state and local decision-making. ACP is encouraged by recent bipartisan progress to confront barriers to modernizing America’s energy economy. If we combine innovations in technology and governing, it is possible to achieve an energy system that is reliable, affordable, secure and clean.”

Alongside the new data, the report presents stories of how this new clean energy manufacturing renaissance is revitalizing local economies. This progress underscores the nation’s commitment to expanding its energy portfolio and solidifying its position as a global leader in clean energy.

Clean energy investment: Highlights from the report include historic investments announced for the U.S. clean energy economy since August 2022:

• Total capital investment of $500 billion
• Manufacturing investment of $60+ billion
• Realized project investments of $75 billion into projects that have come online in the last 2 years.

Manufacturing renaissance: ACP reports that the investment into clean energy is driving a new U.S. manufacturing renaissance, marked by substantial new or expanded facilities and job creation:

• There are 161 total new manufacturing facilities announced
• There are 42 facilities online and operating
• There are 119 facilities in development.

Creating high-quality jobs: The clean energy manufacturing renaissance is also significantly contributing to U.S. employment opportunities:

• Total new manufacturing jobs announced: 100,000+
  • 20,000 jobs generated by operational facilities
  • 80,000 jobs expected from facilities in development.

Building more clean power: The clean energy sector has continued to expand its generating capacity and ambitions:

• Capacity announced is over 300 gigawatts (GW), enough to power the equivalent of more than 47 million U.S. homes.
• Capacity built is 55 GW. These projects generate enough energy to power the equivalent of over 10 million U.S. homes.

Read ACP’s complete “Clean Energy Investing in America” report here. The ACP is a voice in today’s multi-tech clean energy industry, representing more than 800 energy storage, wind, utility-scale solar, clean hydrogen and transmission companies.