After renewable energy installations dipped in 2021, industry renews call for clean energy package
The ACP Clean Power Quarterly report found that 10,520 MW of clean energy projects were installed in the fourth quarter of 2021 alone, including 5,409 MW of wind and 3,937 MW of solar. The report found that there are now over 1,000 clean energy projects under development totaling more than 120,000 MW.
Still, ACP says the current buildout represents only 45% of what is needed to achieve the Biden administration’s goal of a zero-emissions electricity grid by 2035. The slower pace of renewable installation – including the delay of more than 11.4 GW of projects that had been expected to come online in 2021 – in part reflects policy uncertainty around tax credits for wind and storage projects, according to the trade group.
“Although the U.S. has reached this incredible achievement, more needs to be done, at a faster pace, to reach the climate goals and targets our country needs to achieve. We urge Congress to take action to create a clean energy future that will help create more good-paying American jobs and combat the climate crisis,” said ACP CEO Heather Zichal.
House Democrats passed a suite of energy-related tax credits totaling roughly $200 billion as part of the $1.9 trillion Build Back Better budget reconciliation package. That included an extension of the production tax credit for wind (set to expire at the end of this year), extended solar tax credits, incentives for electric vehicles and programs targeted at helping low-income households adopt renewable energy. The package stalled in the Senate amid opposition from Sen. Joe Manchin, D-W.Va., although Democrats have said they could work on a separate climate package.
