Source - reNews - US clean energy investments hit $500bn

Over the past two years, the U.S. clean energy sector has committed $500 billion in new investments, according to a recent report from the American Clean Power Association (ACP).

The 2024 Clean Energy Investing in America report by ACP highlights the industry’s role in sparking a manufacturing revival, with plans to establish or expand more than 160 factories across the country, and the announcement of over 100,000 new manufacturing jobs.

“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.”

Key findings from the report include $500 billion in capital investments announced for the U.S. clean energy economy since August 2022.

Of this, over $60 billion has been directed toward manufacturing investments.

Out of the 100,000 new jobs, 20,000 are already supported by operational facilities, with an additional 80,000 expected from projects currently in development.

More than 300 GW of new capacity has been announced, with 55 GW already constructed.

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Source - reNews