ACORE, the American Council on Renewable Energy, has released a progress report one year after launching its campaign to reach $1 trillion in U.S. private-sector investment in renewable energy and enabling grid technologies by 2030.
According to the report, in 2018 the private sector invested approximately $57 billion in U.S. renewable energy and enabling grid technologies, with the bulk of capital flowing to onshore wind and solar projects.
“Renewable energy remains one of the most attractive investment options in America today,” said Gregory Wetstone, ACORE president and CEO. “Over the long term, however, the renewable sector is going to need predictable policy drivers, competitive power markets and a modernized grid to meet its potential and answer Americans’ growing calls for a clean energy economy.”
ACORE also conducted a survey, included in the report, profiling the opinions of investment professionals who represent major institutions that finance and invest in renewable energy. More than half of the institutions invest more than $500 million each year in the United States renewable energy sector.
The survey found investors are generally optimistic in renewable energy sector growth over the next three years. To that end, one-third of investors plan to increase their investments in renewables across the United States by more than 10 percent this year, with utility-scale solar and energy storage rated the most attractive investment sectors, followed by onshore wind.
To read the full report and survey, click here.
