American Clean Power Statement: Final Passage of Congressional Budget Bill

The American Clean Power Association (ACP) issued the following statement from CEO Jason Grumet after the House voted to concur with the Senate tax and spending bill: 

“Today's Congressional action is a dramatic swing in federal policy, disrupting the good faith investments of American companies that are powering our economy and creating hundreds of thousands of jobs. The legislation restricts energy production, raises prices for American businesses and families, and challenges the reliability of our existing electric grid. 

“While the new policies are a step backward, the combination of surging demand for electric power and economic benefits of renewable energy technologies ensure that clean power will continue to play a significant and growing role in our nation's energy mix. 

“America's electricity demand is projected to surge by as much as 50% by 2040. That growth requires every available source of reliable power, including the clean energy technologies that are the only shovel-ready sources of additional power and the low-cost option across much of the nation. 

“Our economic and national security requires that we support all forms of American energy. It is time for the brawlers to get out of the way and let the builders get back to work.”  

FACTS ABOUT CLEAN ENERGY

The country needs more electricity to power innovation and economic growth.

•  U.S. electricity demand will surge by 35-50% between 2024 and 2040. And the current data center pipeline in the U.S. demands upwards of 100 GW of new power.

Clean energy is a significant and growing part of our energy supply. 

• Utility-scale clean power capacity exceeds 320 GW nationwide -- enough to power nearly 80 million American homes.

• Wind and solar alone account for approximately 16% of U.S. electricity generation.

• Last year, the industry invested $80 billion to deploy 49 GW, representing 93% of electricity capacity brought online.

• Looking forward, 95% of projects in line to connect to the grid are wind, solar, and storage. With more than 2,000 GW queued up, there is more than enough to meet the country's needs.

These resources support the U.S. economy beyond critical power supply. 

• The industry supports 1.4 million American jobs -- 460,000 directly and nearly a million more in supply chains and supporting industries.

• 200 existing manufacturing facilities are actively building primary clean power components in local communities across 38 states to supply the booming demand for new energy in America.

• The clean power manufacturing sector currently contributes $18 billion to U.S. GDP annually, spurs $33 billion in domestic spending annually, and supports 122,000 American jobs across the country. 

American Clean Power Association | https://cleanpower.org/