NEW REPORT: Clean Energy Industry to Power Economic Growth with $500 Billion in New Investments, 100K New Manufacturing Jobs

NEW REPORT: Clean Energy Industry to Power Economic Growth with $500 Billion in New Investments, 100K New Manufacturing Jobs

Press Release

• In two years, 161 manufacturing facilities announced
• 44% of facilities are online or under construction today
• 300 GW of new projects announced, enough to power over 47 million American homes.

WASHINGTON DC, August 7, 2024 - A new report released today by the American Clean Power Association (ACP) shows that, in the last two years, the U.S. clean energy industry has announced $500 billion in new investments, spurring the American 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," said ACP Chief Executive Officer 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 Announced: $500 billion
• Manufacturing Investment Announced: $60+ billion
• Realized Project Investments: $75 billion into projects that have come online in the last two years

Manufacturing Renaissance: The investment into clean energy is driving a new American manufacturing renaissance, marked by substantial new or expanded facilities and job creation:

• Total New Manufacturing Facilities Announced: 161 facilities
• Facilities Online and Operating: 42 facilities
• Facilities in Development: 119 facilities

Creating High-Quality Jobs: The clean energy manufacturing renaissance is also significantly contributing to American 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: Over 300 GW, enough to power the equivalent of over 47 million American homes.
• Capacity Built: 55 GW
  • These projects generate enough energy to power the equivalent of over 10 million American homes.

Read ACP's new Clean Energy Investing in America report here.

The American Clean Power Association (ACP) is the leading voice of today's multi-tech clean energy industry, representing over 800 energy storage, wind, utility-scale solar, clean hydrogen and transmission companies. ACP is committed to meeting America's national security, economic and climate goals with fast-growing, low-cost, and reliable domestic power.

Follow ACP on LinkedIn, Instagram, Facebook, and Twitter, and learn more at cleanpower.org.