Clean Energy Spending Explodes to $150 Billion in Months (1)

Renewable power developers have invested more than $150 billion in large clean energy projects over just eight months, surpassing the total over the five preceding years, as a wave of federal incentives propel construction.

A report by the American Clean Power Association shows the initial wave of spending unleashed by August’s enactment of the Inflation Reduction Act on utility-scale wind, solar and energy storage projects as well as manufacturing to support them. While the figures show explosive growth in zero-emission power project development and advanced energy manufacturing on the order of 30 gigawatts per year of new clean energy capacity, ...