Wind and Solar Surpass Coal for First Time as U.S. Clean Energy Hits Record Growth

The American Clean Power Association (ACP) today released its Clean Power Annual Market Report | 2024, underscoring the essential role clean energy plays in driving economic growth, job creation, and infrastructure transformation across the United States.

In 2024, the clean power sector supported 1.4 million American jobs and attracted nearly $80 billion in investment, affirming its position as a cornerstone 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 ACP CEO Jason Grumet. “Solar, wind, and battery storage are leading an all of the above energy future powered by affordable, reliable, and secure American resources.”

Key Highlights from the 2024 Report:

Surging Investment and Deployment

• $80 billion was invested to deploy nearly 49 gigawatts (GW) of new clean energy infrastructure.
• The industry launched 45 new manufacturing projects, totaling more than $9 billion in domestic manufacturing investment.
• For the first time ever, wind and utility-scale solar generation outpaced coal, providing nearly 16% of U.S. electricity.
• By year-end 2023, the interconnection queue had grown to 2,367 GW, with over 95% consisting of wind, solar, and energy storage projects.

Corporate Demand Driving Clean Energy Growth

• Leading tech giants Amazon, Microsoft, Meta, and Google contracted a combined 11.3 GW of clean power in 2024—nearly equivalent to the total installed capacity in Florida, the fifth-largest clean energy state.
• These power purchases demonstrate the essential role of clean energy in supporting the rapidly expanding data center market and broader digital infrastructure.

Meeting Rising Electricity Demand

• As electricity demand accelerates, clean power remains uniquely positioned to meet new load requirements quickly and cost-effectively.
• The U.S. must add more than 900 GW of renewable energy and storage, along with 60–100 GW of new gas capacity, by 2040 to ensure grid reliability.

Economic and Community Impact

• The clean power sector supports 460,000 direct jobs, with nearly 1 million more in related supply chains and communities.
• Over the last two decades, clean energy companies have invested more than $600 billion, delivering widespread economic benefits and transforming energy infrastructure in all 50 states.
• Power Purchase Agreements (PPAs) surged 56% in 2024, a clear signal of market confidence and sustained demand for clean power solutions.