According to a new report released by the American Clean Power Association (ACP) on December 14, 2022, over $40 billion of new grid-scale clean energy investments have been announced over the last three months, equal to the entire amount invested in 2021.[1] The Clean Energy Investing in America report covers a period of growth between August 16, 2022, the day the Inflation Reduction Act (IRA) was signed, and November 30, 2022. The report found that 20 new grid-scale clean energy manufacturing facilities have been announced in the U.S., which are expected to add 7,000 jobs. Twelve of these facilities are solar manufacturing facilities, a more than a 300% increase in solar module manufacturing capacity in the U.S. In total, 13 GW of clean energy project capacity has been announced.

The ACP report also found that utility companies expect consumer savings of over $2.5 billion. These utilities attributed these savings to federal incentives that make new project investments less expensive. In the press release, ACP interim CEO and Chief Advocacy Officer JC Sandberg urged “the administration and Congress to continue improving trade policies, enacting common sense permitting reform and finalizing effective tax implementation” to ensure the investments reach their full potential.

[1] https://cleanpower.org/news/new-report-clean-energy-industry-sees-massive-investments-since-august/