The American Clean Power Association today released its first Clean Power Annual report, which showed wind, utility solar, and battery storage power capacity in the U.S. topped 170 gigawatts (GW), following a record 26 GW of clean energy projects coming online in 2020.
The rapid pace of new clean power installations included 16,836 MW of land-based wind, representing 50 percent of new additions; 8,894 MW of utility-scale solar projects, capturing 26 percent of the market; and 760 MW of battery storage capacity. Combined wind, solar, and battery storage power represent 78 percent of new power installations in 2020. Clean power technologies now deliver 10.7 percent of the nation’s electricity.
The report also finds clean power projects brought online in 2020 represent roughly $39 billion dollars in investment. Growth is continuing across the industry with nearly 90,000 MW of clean energy projects currently underway, representing over $120 billion in new investment.
The report also shows that the unsubsidized cost of energy for wind power has fallen 71% since 2009 and that solar has fallen 90% since 2009.
The report also shows that the unsubsidized cost of energy for wind power has fallen 71% since 2009 and that solar has fallen 90% since 2009.
Business demand for clean power also set a record as corporate buyers announced over 10 GW of new clean power contracts and power purchase agreements in 2020.
The economic impacts from the growing U.S. offshore wind industry are poised to continue as the East Coast experiences an uptick in growth. 9GW of offshore wind capacity are in advanced development along the Eastern seaboard, and by the end of 2020 seven states (CT, MD, MA, NJ, NY, RI, and VA) had issued procurements or state targets totalling nearly 30GW of offshore wind capacity.