Statement by Greg Wetstone, ACORE President and Chief Executive Officer
WASHINGTON, March 28, 2017 – “There is no denying that long-term investment in the nation’s renewable energy infrastructure would have benefited from Clean Power Plan’s 2030 objectives. The near-term reality, however, is that today’s executive order is unlikely to impact the booming growth in the nation’s renewable energy sector.
Renewable power, mostly in the form of wind and solar energy, provided 70% of the nation’s new electricity capacity over the past two years. In fact, the renewable energy sector garnered a whopping $96 billion in investment over the past two years and, according to BlackRock, is the largest source of private sector infrastructure investment in the U.S. This growth has created hundreds of thousands of new jobs and generated hundreds of millions of dollars in tax revenue for local communities, mostly in rural areas.
The reality is that America’s renewable energy industry is growing rapidly because of declining costs, forward-looking state policies and increasing demand by residential and corporate electricity consumers – a trend that is likely to continue for the foreseeable future. Even without a regulatory mandate, renewable energy growth may be sufficient to enable the U.S. to stay on track toward the Clean Power Plan’s emissions reduction objectives.”
Supporting Materials: Lazard chart showing the reduction in levelized cost of electricity (LCOE) in wind and solar since 2009.
The American Council On Renewable Energy (ACORE) is a national non-profit organization dedicated to providing value to the renewable energy industry through market development, policy changes, and financial innovation. With hundreds of member companies from across the spectrum of renewable energy technologies, consumers, and investors, ACORE is uniquely positioned to promote the policies and financial structures essential to growth in the renewable energy sector. The organization’s annual conferences in Washington, D.C., New York and San Francisco set the industry standard in providing important venues for key leaders to meet, discuss recent developments, and hear the latest from senior government officials and seasoned experts.
Anna Hahnemann, ACORE