Report: Renewable energy industry creates 100K new U.S. jobs
A new report released by the American Clean Power Association (ACP) shows that the U.S. renewable energy industry has announced $500 billion in new investments in the last two years, 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 more than 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 Jason Grumet, CEO of the ACP. “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 renewable 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 renewable energy.
Clean Energy Investment: Highlights from the report include historic investments announced for the U.S. renewable 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 renewable 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 U.S. 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 renewable 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 U.S. homes.
- Capacity Built: 55 GW
- These projects generate enough energy to power the equivalent of over 10 million U.S. homes.
Read ACP’s new Clean Energy Investing in America report here.
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