Expectations for Renewable Energy Finance in 2021-2024: Growing Confidence in the Aftermath of the Pandemic

Expectations for Renewable Energy Finance in 2021-2024

Growing Confidence in the Aftermath of the Pandemic

A new analysis released June 15, 2021 by ACORE finds that confidence among both renewable energy investors and developers is at an all-time high. The report, Expectations for Renewable Energy Finance in 2021-2024, presents the results of a new survey of prominent financial institutions and renewable energy development companies on their confidence in the sector in the aftermath of the COVID-19 pandemic.

The new report also tracks progress on the $1T 2030: American Renewable Investment Goal, an initiative ACORE launched in 2018 to help secure $1 trillion in private sector investment in renewable energy and enabling grid technologies by 2030.

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On June 19, 2018, the American Council on Renewable Energy launched a new campaign that aims to reach $1 trillion in U.S. private sector investment in renewable energy and enabling grid technologies by 2030.

Through $1T 2030: The American Renewable Investment Goal, the country’s major providers of capital for energy infrastructure projects have now come together in a coordinated effort to accelerate the investment and deployment of renewable power as the sector moves to the next stage of market maturity.

$1T 2030 is managed through the Partnership for Renewable Energy Finance (PREF), a senior-level ACORE member program widely regarded as the nation’s most credible educational resource on renewable energy finance. The campaign will leverage the network of ACORE members and supporters, highlighting a combined set of common sense policy reforms and distinct market drivers that are necessary to reach this ambitious goal.

In the absence of new policies, most analysts expect the recent booming pace of renewable investment to decline in the early 2020s, but if we adopt the pathway for growth articulated by this campaign, America will close the innovation and investment gap with other nations, build on the impressive track record of job creation in wind, solar and related fields, and stay within striking distance of the U.S. commitment for greenhouse gas emission reductions outlined in the Paris Accord.

ACORE’S $1T 2030 CAMPAIGN PRIORITIES

Tax Policy: ACORE works to protect and extend existing incentives for renewable energy and provide a long-term level playing field in support of carbon-free electricity generation, including a free-standing investment tax credit for energy storage technologies and regionally significant transmission.

Climate Policy: ACORE focuses on identifying and promoting the most viable suite of climate policies and analyzes their impact on renewable energy growth and investment including a federal high-penetration renewable energy standard or clean energy standard and carbon pricing.

Grid Advocacy: ACORE advocates for cost-effective investment in transmission infrastructure to create a Macro Grid, and a less balkanized and fairer electricity marketplace to promote greater access to and delivery of renewable resources.

Energy Storage: Energy storage and other grid-enabling technologies have the potential to transform the power system and fundamentally change the way we think about energy. ACORE promotes their growth through policy advocacy, market reforms and financing solutions.

Environmental, Social and Governance (ESG) Scoring: ACORE works with its members to increase standardization, transparency and use of material indicators in ESG disclosure and scoring methodologies through specific recommendations and regular outreach to the ESG community.

PRESS RELEASES

MEDIA COVERAGE

2020 Media Coverage

Renewable Energy Remains One of America’s Most Attractive Investment Options

Source: Greentech Media | August 24, 2020

 

Statement from Mona Dajani on Progress Toward ACORE’s $1T 2030 American Renewable Investment Goal

Source: North American Clean Energy | July 14, 2020

 

Renewable Energy Growth Stymied by Pandemic, but Optimism Is High

Source: Power Magazine | July 16, 2020

 

Investors bullish on US renewables investment target: ACORE

Source: Kallanish Energy | July 16, 2020

 

New Analysis: The $1T 2030 American Renewable Investment Goal Remains Within Reach, but Pandemic Presents Challenges

Source: Energy Central | July 15, 2020

 

Biden outlines $2T plan to invest in renewables, electrification

Source: Utility Dive | July 15, 2020

 

Survey shows confidence in US renewables growth in 2020-23 but virus challenges are there

Source: Renewables Now | July 15, 2020

 

Biden aims for ‘sweet spot’ with upgraded $2 trillion clean energy plan

Source: Washington Examiner | July 14, 2020

 

$1tn by 2030 US renewables goal ‘achievable’

Source: reNews | July 14, 2020

 

Even in Midst of Covid, Report Says Investors Remain Optimistic About Renewable Energy Growth

Source: Environment+Energy Leader| July 14, 2020

 

Progress on Acore $1trn clean-energy capital drive hit by ‘near-term headwinds’

Source: Recharge News | July 14, 2020

 

New Analysis: The $1T 2030 American Renewable Investment Goal Remains Within Reach, but Pandemic Presents Challenges

Source: International Business Times | July 14, 2020

 

American investors remain optimistic about long-term renewable energy growth finds ACORE analysis

Source: Renewable Energy Magazine | July 14, 2020

 

American RE investment could be on track for $1T by 2030

Source: Smart Energy Decisions | July 14, 2020

 

New Analysis: The $1T 2030 American Renewable Investment Goal Remains Within Reach, but Pandemic Presents Challenges

Source: North American Clean Energy | July 14, 2020

 

New Analysis: The $1T 2030 American Renewable Investment Goal Remains Within Reach, but Pandemic Presents Challenges

Source: Alt Energy Magazine | July 14, 2020

2019 Media Coverage

Renewable Energy is Booming. Here’s How to Keep It Going 
Source: Fortune | July 2, 2019

 

Renewables financing race seen off to a slow start
Source: S&P Global Markets | June 21, 2019

 

Study shows high investor confidence in renewable energy 
Source: Daily Energy Insider | June 20, 2019

 

U.S. senators join push for solar tax credit extension 
Source: PV Tech | June 20, 2019

 

America’s leading financial institutions report high confidence in renewable sector growth 
Source: Renewable Energy Magazine | June 20, 2019

 

America’s Leading Financial Institutions Report High Confidence in Renewable Sector Growth 
Source: North American Clean Energy | June 19, 2019

 

Investor confidence in U.S. renewables remains high, finds ACORE
Source: Windpower Engineering & Development | June 18, 2019

 

U.S. solar installations have best first quarter in history
Source: Energy Wire | June 18, 2019

 

ACORE Releases $1 Trillion-by-2030 Renewable Energy Investment Campaign Progress Report
Source: Energy Central | June 18, 2019

 

U.S. Renewable Energy Scored $57 Billion in Private Investment in 2018: ACORE Report 
Source: Think Advisor | June 18, 2019

 

ACORE survey shows financial institutions have high confidence, interest in solar investments
Source: Solar Builder Magazine | June 17, 2019

 

U.S. clean energy investors keenest on PV, storage in trillion dollar race
Source : PV Tech | June 17, 2019

 

ACORE: Investors Remain Confident In U.S. Renewables, Especially Utility-Scale Solar
Source: Solar Industry Magazine | June 17, 2019

 

ACORE: Investor Confidence In U.S. Renewables Remains High
Source: North American Windpower | June 17, 2019

 

ACORE $1trn campaign on course but hindered by Trump policy limbo
Source: Recharge News | June 17, 2019

 

ACORE: Greater investment in wind, but more interest in solar + storage
Source: PV Magazine | June 17, 2019

 

Greg Wetstone: U.S. on track for $1trn renewables investment drive
Source: Recharge News (op-ed) | June 17, 2019

 

Investors confident in continued growth of renewables
Source: Washington Examiner | June 17, 2019

 

ACORE survey finds U.S. clean energy investors keenest on PV, storage in trillion dollar race 
Source: PV Tech | June 17, 2019 

 

2018 Media Coverage

New investor-backed campaign targets a trillion dollars for US renewables
Source: Utility Dive | Published: July 13, 2018

 

(Op-Ed) Top Renewable Energy Financiers Reveal Pathway To $1 Trillion In U.S. Investment
Source: Forbes | Published: July 11, 2018

 

Aiming for investments of $1 trillion
Source: Marketplace | Published: July 5, 2018

 

What Financiers Need to Unlock $1 Trillion in Renewable Energy Investment
Source: Greentech Media | Published: June 22, 2018

 

ACORE Launches New Campaign To Reach $1 Trillion In US Renewables Investment
Source: CleanTechnica | Published: June 21, 2018

 

Renewable energy investments may double by 2030, reaching $1 trillion, survey finds

Source: AgriPulse| Published: June 19, 2018

 

New ACORE Campaign Shoots For $1 Trillion U.S. Renewables Investments
Source: North American Windpower | Published: June 19, 2018

 

$1 trillion by 2030 – ACORE lays out a US pathway
Source: PV Magazine | Published: June 19, 2018

2020 REPORT

Cover image for the 2020 $1T2030 Progress Report. Report title is: Expectations for Renewable Energy Finance in 2020-2023: Survey of Leading Financial Institutions and Developers $1T 2030 Campaign Progress Report

This analysis presents the results of a new survey of prominent financial institutions and renewable energy development companies on their confidence in the sector amid the ongoing impacts of COVID-19. This report also tracks progress on the $1T 2030: American Renewable Investment Goal, which is an initiative ACORE launched in 2018 to help secure $1 trillion in private sector investment in renewable energy and enabling grid technologies by 2030.

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2019 REPORT

1T 2030: 2019 Progress Report

One year into its campaign to reach $1 trillion in U.S. private sector investment in renewable energy and enabling grid technologies by 2030, ACORE released a progress report tracking U.S. renewable investment and assessing the policy and market pathways needed to achieve $1T 2030: The American Renewable Investment Goal.The 2019 report also includes an updated survey of America’s leading financial institutions that reports high near-term confidence for renewable energy growth over the next three years and a strong appetite for increased investment.

2018 REPORT

$1T 2030 is founded on a range of insights drawn from an ACORE survey of renewable energy investors gauging confidence in the U.S. renewable sector and the impacts of supportive policy reforms and market drivers.

“The Future of U.S. Renewable Energy Investment: A Survey of Leading Financial Institutions,” collected data and insights from senior-level respondents across banking institutions, asset managers, private equity firms and other financial firms that together represent approximately one third of annual U.S. renewable energy investment.

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CONTACT

For more information about the $1T 2030 campaign please contact:

Lesley Hunter
Vice President of Programs
202.507.4630
hunter@acore.org

Alex Hobson
Vice President of Communications
202.777.7584
hobson@acore.org

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