The American Clean Power Association (ACP) recently released its Clean Power Annual Market Report | 2024, highlighting the crucial role that clean energy plays in boosting economic growth, job creation, and transforming infrastructure across the United States. In 2024 alone, the clean power sector supported an impressive 1.4 million jobs and attracted nearly $80 billion in investments, solidifying its status as a vital component of the modern U.S. economy.
“Clean energy is fueling America’s economy and creating opportunities for American workers and communities all across the country,” said Jason Grumet, CEO of ACP. He emphasized that solar, wind, and battery storage are leading the transition to an energy future that is affordable, reliable, and secure.
The report reveals that $80 billion was invested to deploy nearly 49 gigawatts (GW) of new clean energy infrastructure in 2024. The industry also launched 45 new manufacturing projects, totaling over $9 billion in domestic manufacturing investment. Notably, for the first time, wind and utility-scale solar generation surpassed coal, providing nearly 16% of U.S. electricity. By the end of 2023, the interconnection queue had expanded to 2,367 GW, with over 95% consisting of wind, solar, and energy storage projects.
Major tech companies like Amazon, Microsoft, Meta, and Google contracted a combined 11.3 GW of clean power in 2024, nearly matching the total installed capacity in Florida, which is the fifth-largest clean energy state. This surge in power purchases highlights the critical role of clean energy in supporting the rapidly growing data center market and broader digital infrastructure.
As electricity demand continues to rise, clean power is uniquely positioned to meet new load requirements quickly and cost-effectively. The U.S. needs to add over 900 GW of renewable energy and storage, along with 60–100 GW of new gas capacity, by 2040 to ensure grid reliability.
The clean power sector directly supports 460,000 jobs, with nearly 1 million additional jobs in related supply chains and communities. Over the past two decades, clean energy companies have invested more than $600 billion, delivering substantial economic benefits and transforming energy infrastructure in all 50 states. Furthermore, Power Purchase Agreements (PPAs) surged by 56% in 2024, signaling strong market confidence and sustained demand for clean power solutions.
The ACP’s report showcases the immense potential of the clean energy sector to drive economic growth and create jobs while addressing rising energy demands. As investments in clean technology continue to surge, the U.S. is on a path toward a sustainable and prosperous energy future. By prioritizing clean energy, America can ensure a robust economy and a healthier planet for generations to come.
