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Private Sector Investments in U.S. Clean Energy Sector Exceeded $270 Billion

Aug. 8, 2023
In the past 12 months, private investments totaling $271 billion have been put toward domestic clean energy projects and manufacturing facilities.

The American Clean Power Association (ACP) recently released data showing that federal support has led to the announcement of private investments totaling $271 billion in domestic clean energy projects and manufacturing facilities over the past 12 months. This exceeds the combined clean energy investments made over the previous eight years.

The latest Clean Energy Investing in America report details the extent of the clean energy renaissance spreading across the country since federal clean energy incentives were signed into law last August. According to the release from ACP, once completed, these investments and projects will strengthen the nation's energy independence, improve air quality, and support one million American clean energy jobs.

“Investment in clean energy production and manufacturing is surging. New jobs and revenue are bringing opportunity and optimism to rural communities across the country. America’s manufacturing centers are competing to meet new clean energy demand with a new domestic wind, solar, or storage manufacturing facility announced every four days,” said ACP CEO Jason Grumet.

Highlights from the report include public announcements from the past year of:

  • • 184,850 megawatts (MW) of new utility-scale clean energy capacity
  • • $4.5 billion in consumer savings
  • • 29,780 new manufacturing jobs
  • • Over $22 billion in manufacturing investment
  • • 83 new or expanded utility-scale clean energy manufacturing facilities – equivalent to a manufacturing facility being announced every 4 days

Manufacturing facilities for utility-scale clean energy components have been announced in districts across the country, and multiple states have announced five or more facilities, including Georgia (7), Tennessee (6), South Carolina (6), Texas (5), and Colorado (5).

The report also unveils a significant uptick in the manufacturing capacity of clean power components, thanks to the 83 announced facilities. Should currently announced manufacturing facilities reach operation, ACP estimates a nearly ninefold increase in solar module production and a more than fifteenfold increase in grid-scale battery storage, along with significant increases in production output for solar cells, polysilicon, ingots and wafers, blades, towers, and nacelles.

Read ACP’s new Clean Energy Investing in America report on their website.

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