New ACORE Report: “Renewable energy is becoming the option of choice to power 21st Century America”
The American Council On Renewable Energy (ACORE) is out with a new report, A Profile of the Nation’s Renewable Energy Sector: Powering 21st Century America, that is well worth reading. The report makes several important points, which are summarized below. Also check out a few of their graphics, which are highly informative.
- Clean Energy Capacity Is Booming: “As the nation’s electricity infrastructure ages and older power plants retire, renewable energy is becoming the option of choice to power 21st Century America…Renewable energy already constitutes nearly 20% of U.S. electricity capacity across both red and blue states. Cumulative renewable capacity in the U.S. now totals nearly 222 gigawatts, with more than 17 gigawatts added to the grid just last year.”
- Renewables Are Beating Fossil Fuel-Generated Power: “Since 2008, renewables have made up more than half of all new power generation capacity in the U.S., outcompeting fossil sources of electricity and delivering tangible economic benefits throughout the country.”
- Clean Energy is a Major Source of Economic Growth and Job Creation: “With more than $380 billion in private sector investment since 2004, including over $44 billion in 2015 alone, renewable energy is an important source of American economic growth and job creation… with hundreds of manufacturing facilities and nearly 300,000 American workers, employment in just the wind and solar industries now surpasses jobs in coal mining and oil and gas extraction.”
- Renewable Energy Costs Continue to Plummet: “Since 2009, the cost of wind energy has declined by more than 60% and the cost of solar power has declined by more than 80%.” As a result, “electric power prices are rising most slowly in the states with the most renewable energy, and most rapidly in the states with the least renewable power.”
- Renewable Energy is an Important Asset for U.S. National Security: “[H]arness[ing] these abundant domestic resources promotes the nation’s energy independence and security by reducing our reliance on global fossil fuel markets, enhancing the resilience of our power grid, and increasing the long-term reliability of our electricity supply.”
- Four Important Federal, State Policies Needed to Keep This Going: 1) create/maintain “a level playing field” for clean energy in the U.S. tax code; 2) implement the Clean Power Plan; 3) modernize the U.S. power grid; 4) reduce “inefficiencies in the federal permitting process” for renewable energy projects.