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Renewables Stumble

Q1 results continue downward trend

The American Clean Power Association (ACP) released two new market reports and found that combined U.S. wind, utility solar, and energy storage capacity had the third-largest year on record in 2022 with more than 25 GW of capacity installed.

However, a decline in deployment volume from the previous two years, combined with an historically low Q1 2023, underscored what the group said represented “the continued headwinds facing the industry.”

Clean power dominated new power capacity additions in 2022, comprising nearly 80% of all new grid additions.

Following passage of the Inflation Reduction Act (IRA) last summer, clean power has seen record levels of announced activity, ACP said, with the development pipeline growing to nearly 140 GW by the end of the first quarter. That was 11% above where it was at the same point a year earlier.

The organization cautioned, however, that “it is too early to see this activity translate into installations,” which it said slowed for the first time since 2017.

ACP CEO Jason Grumet said in a statement, “the clean energy transition will not succeed unless Congress and Governors enable the siting and construction of new energy facilities and support the build out of transmission that is required to bring clean power to the people.”

A trio of national renewable energy organizations sent a letter May 22 to House and Senate leadership urging the enactment of bipartisan transmission permitting legislation that they said builds on the clean energy policies included in the IRA.

“Research shows that we will need to double the pace of historical transmission deployment in order to maximize the carbon emission reduction benefits of this historic legislation,” the groups said in the letter. The letter was sent by the American Council on Renewable Energy, Advanced Energy United, and the Solar Energy Industries Association.

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