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

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. One trillion dollars of investment over 2018-2030 would represent more than two times the historic investment in the U.S. renewable sector before the campaign and more than double our existing renewable capacity, bringing us closer to meeting climate goals.

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.



  • A long-term federal policy commitment providing support for carbon-free electricity generation, presumably as part of an effort to address the externalities associated with greenhouse emissions, after the wind and solar tax credits phase out in the early 2020s.
  • Federal, state and regional policies to promote modernization of the nation’s electrical grid, including rules that allow renewables to compete fairly in electricity markets, and new incentives for energy storage and other enabling grid technologies.
  • Continued expansion of state renewable portfolio standards to support increasing deployment of renewable electricity.
  • Reforms to facilitate siting and permitting processes for renewables and transmission and allow for accelerated renewable energy growth.


  • A scale up of the energy storage market via new business models, improving economics and technology innovation, that will enhance integration of renewables as its makeup of America’s power generation portfolio achieves new levels.
  • Increased corporate renewable purchasing by diversifying procurement options and developing market incentives for middle market and industrial companies, expanding renewable energy use throughout the C&I sector.
  • High levels of public awareness and support for renewable energy and electric vehicles as an actionable solution to combat climate change, leading to increased deployment of rooftop solar, purchase of electric vehicles and demand for renewable energy from electricity suppliers.
  • Continued financial innovation as capital stacks evolve to replace tax equity as a key source of project finance, and as the industry seeks a more standardized approach to finance new project offerings, such as renewables plus storage systems.



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 182019


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 172019


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 172019


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 


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


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.


$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.


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

Lesley Hunter
Vice President of Programs

Alex Hobson
Vice President of Communications


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