In the last two years, the US clean energy industry has announced $500bn in new investments, reveals a report released by the American Clean Power Association (ACP).
ACP’s 2024 Clean Energy Investing in America report found the industry is leading a manufacturing renaissance, with plans to build or expand over 160 domestic factories 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,” said ACP chief executive 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.”
Highlights from the report include investments announced for the US clean energy economy since August 2022 amounting to a total capital investment of $500bn.
The manufacturing investment exceeded $60bn.
Of the 100,000-plus jobs, 20,000 are generated by operational facilities while 80,000 positions are expected from sites in development.
Over 300GW has been announced out of which 55GW has been built.