The US clean energy sector has announced $500 billion in new investments over the past two years, according to a report released by the American Clean Power Association (ACP).
The ACP's 2024 Clean Energy Investing in America report found that the industry is driving a manufacturing renaissance, with plans to build or expand over 160 domestic factories and the announcement 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.”
Grumet emphasized the need for efficiency improvements in federal, state, and local decision-making to deploy new capacity at the required speed and scale. “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,” he noted.
He also highlighted bipartisan efforts to address barriers to modernizing America's energy economy. “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.”
Key findings from the report include $500 billion in capital investments announced for the US clean energy economy since August 2022, with manufacturing investments exceeding $60 billion. Of the 100,000-plus jobs announced, 20,000 are generated by operational facilities, while 80,000 positions are expected from sites in development. Additionally, over 300 GW of new capacity has been announced, with 55 GW already built.
