WASHINGTON D.C – American Clean Power Quarterly Market Report Breaks Records. The American Clean Power Association released its latest Clean Power Quarterly Market Report, detailing a surge in clean energy deployment during Q3 2024, with 10.2 GW of clean energy capacity coming online.
Consequently, this record-setting quarter positions the industry to achieve a historic year in 2024, thereby underscoring the strength of American clean power.
1. Significant Increase in American Clean Energy Installations Compared to 2023:
Year-to-date installations of clean energy technologies have reached an impressive total of 29.6 GW. This marks an extraordinary 86 percent increase compared to the same period in 2023. This remarkable growth not only highlights the rising adoption of clean energy solutions but also underscores their importance as an affordable and reliable power source for communities across the United States.
2. Enough Clean Power to Supply 72 Million American Homes:
Furthermore, the overall deployment of clean power capacity in the U.S. has now reached 294 GW. This substantial capacity is enough to power approximately 72 million American homes, demonstrating the significant impact of renewable energy on the nation. As more communities transition to clean energy, the benefits of sustainability, cost savings, and energy independence become increasingly evident.
3. What are the Key Benefits of this Rapid Clean Energy Growth?
“American-made clean power is meeting the moment, providing the resources necessary to continue delivering affordable and reliable power to communities across the country. Additionally, the record pace of clean power installations is delivering not only for the power grid but for the U.S. economy,”
said John Hensley, ACP’s SVP of Markets and Policy Analysis.
“Moreover, the impacts of the industry’s investments are vast, keeping America competitive on the global economic stage and enhancing our energy and national security.”
4. Key Highlights for American Clean Power Quarterly Market Report:
- Utility-Scale Solar:3 GW of new solar capacity was added in Q3 alone, bringing the total to nearly 20 GW installed year-to-date. As a result, 2024 is poised to shatter the previous annual record of 21.3 GW installed in 2023.
- Energy Storage: Energy storage had another impressive quarter, adding 3.5 GW of new capacity, bringing the year-to-date total to 7.5 GW.
- States Lead the Charge: States across the country—such as Louisiana, Arkansas, and Mississippi—have joined the list of top clean power installers in Q3 2024 for the first time.
- Wind Pipeline Grows: The land-based wind pipeline saw upward movement in the third quarter, increasing three percent from the second quarter to reach 24.4 GW. The offshore wind pipeline grew to 15.5 GW in the third quarter, up 3.3 GW from the second quarter.
A scaled-down version of the report is available to the public, with the full Clean Power Quarterly Market Report | Q3 2024 available only to ACP members.
Summing Up:
The ‘American Clean Energy Breaks Records in Third Quarter’ report highlights a remarkable surge in clean energy deployment. This rapid growth underscores the industry’s strength and its vital role in providing reliable, affordable, and sustainable power for the nation.
As we embrace innovative technologies and climate-smart solutions, we can anticipate a future where clean energy plays an even more prominent role in combating climate change and promoting environmental stewardship.
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FAQs:
What are the biggest challenges facing the US clean energy industry?
Challenges include permitting and regulatory hurdles, grid infrastructure constraints, and the need for continued technological innovation to further reduce costs and improve efficiency.
How much clean energy was installed in the US in Q3 2024?
10.2 GW of new utility-scale clean energy capacity was installed in the US during the third quarter of 2024.
What states are leading in clean energy growth?
While traditional leaders continue to contribute, states like Louisiana, Arkansas, and Mississippi are emerging as significant players in the clean energy sector.
