More than $150 billion in domestic utility-scale clean energy investments have been announced in the US since August last year, according to a report from the American Clean Power Association (ACP).
The total is equivalent to five years’ worth of American clean energy investment, surpassing total investment into US clean power projects commissioned between 2017 and 2021.
The investment includes 46 new, expanded or re-opened manufacturing facilities, of which eight are wind manufacturing facilities and two are offshore wind manufacturing facilities
In August, the Inflation Reduction Act was signed into law. The legislation includes 10-year tax credits for installing wind energy projects and a tax for credit for the domestic manufacturing of major clean-energy components such as wind-turbine nacelles and blades.
ACP’s report noted that the “once-in-a-generation opportunity” to build out clean energy resources significantly must be accompanied by expediting and streamlining the permitting process. Failure to do so will put 100GW of clean energy at risk of significant delay, along with 150,000 jobs, the association warned.
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