Insights from the 2023 Clean Power Market Report

The American Clean Power Association underscores the collective strength and advancements in the clean energy industry, representing over 800 companies. Their commitment is reflected in the rapid growth and diversification of clean power solutions, aimed at fortifying America’s energy independence and addressing climate concerns.

2023 marked a historic year for the clean power industry with 34 GW of new installations, elevating the total capacity to 262 GW. Triggered by the Inflation Reduction Act, a staggering $421 billion in capital investments was announced, signaling robust industry confidence and a significant shift towards renewable energy sources. The year also saw the creation of over 42,000 jobs, emphasizing clean power’s role in fueling economic growth.

Dominance of Solar and Storage

The solar sector shone brightly with nearly 20 GW of new additions, while battery storage capacity grew by 86%, illustrating the sectors’ critical roles in reshaping America’s energy landscape. These technologies are not just expanding in capacity but are also setting new annual addition records, indicating a significant shift towards more sustainable and reliable energy solutions.

Clean Power Across the U.S.

Clean power’s footprint is extensive, with projects or manufacturing facilities present in 93% of Congressional districts. This widespread presence underscores the sector’s importance in national energy security and local economic development, highlighting the universal appeal and applicability of clean energy solutions.

Despite the remarkable growth, the industry faced challenges such as supply chain constraints and regulatory hurdles. However, the overarching sentiment remains optimistic, with continued investments and technological advancements poised to drive the sector forward.

A Sustainable Path Forward?

The 2023 report illustrates a year of substantial growth and resilience for the clean power sector. As the industry looks ahead, it is poised to continue its trajectory of innovation and expansion, playing a pivotal role in shaping a sustainable, reliable, and cost-effective energy future for the United States.

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