The American Council on Renewable Energy (ACORE) announced a new campaign to reach $1 trillion in private sector investments for placement into U.S. renewable energy and grid technologies by 2030. Called, “$1T 2030: The American Renewable Investment Goal”, this campaign brings together the country’s major sources and providers of capital for energy infrastructure projects who are joining forces to accelerate the deployment of renewable power through greater investment.
“Renewable energy has come a long way and is economically competitive, but if we accept business-as-usual projections that predict a decline in annual investment and deployment levels in just a few years due to an uneven policy playing field, we will cede U.S. leadership and the immense range of economic benefits that come from being a dominant player in this booming global industry,” said Gregory Whetstone, CEO and president of ACORE.
In order to meet the $1 trillion goal, the campaign is managed through the Partnership for Renewable Energy Finance (PREF), a senior-level ACORE membership program, in combination with common sense policy reforms and distinct market drivers led by ACORE that will boost growth.
The investments that are expected to be made from 2018 to 2030 will be divided almost equally between renewable energy and grid technologies, improving integration of renewable energy, while achieving a resilient grid system to take the country into the future.
Should the campaign attain its goal, the U.S. will remain on schedule to fulfill their commitment to lower greenhouse gas emission reductions made in the Paris Accord. This would also close the investment and innovation gap between America and other nations, while building on the track record of job creation in solar, wind, and related fields.
