5 Ways Clean Energy Powers Our Economy

It's Clean Power Week in America. Let's explore five ways that clean energy powers our economy.

1. Jobs

More than 460,000 Americans work in the wind, solar and energy storage sectors, and by 2030, that number is expected to reach one million clean energy jobs. Those jobs include wind turbine technician, which is the fastest growing job according to the Bureau of Labor Statistics, and solar installer jobs, which are expected to increase 22 percent from 2022 - 2032.

In the Midwest, those numbers are equally as impressive. According to the Clean Jobs Midwest report, there are nearly 120,000 jobs in the renewable energy and grid and storage sectors.

2. Economic Development

Nationwide, clean energy is an economic development powerhouse. And, even better, it is an investment in communities, especially rural communities where jobs and economic development are hard to come by. Over half a trillion dollars in total U.S. investment has come from the clean energy sector, specifically:

• Land-based wind: $293 billion
• Solar: $195 billion
• Storage: $20 billion
• Off-shore wind: $1.2 billion

Due to the demand for clean, low-cost energy, there has been a significant increase in domestic clean power-related manufacturing facilities, too. In fact, in the past two years alone, the utility-scale clean energy industry has announced at least $500 billion in capital investments in manufacturing facilities, which includes 160 new, expanded or re-opened utility scale clean energy manufacturing facilities including 42 that are already complete and operating. These clean energy announcements made over the past two years are equivalent to the combined clean energy investments made over the prior 40 years.

According to the "Clean Energy Investing in America Report," the Midwest is home to 9 new or expanded clean power manufacturing facilities since 2022.

The region hosts five solar manufacturing companies, with another eight under development or announced, three wind manufacturers, plus another three under development or announced, one battery storage plant, with two more under development or announced. In addition, the Midwest will host one transmission manufacturing facility, which is currently under construction and is expected to be open in the second quarter of 2025.

3. Reduces Utility Costs for Consumers

Wind and solar energy remain the country's most affordable sources of new electricity. During the last decade, solar and wind costs have decreased 31% and 45%, respectively. But battery storage facilities really help keep electricity prices low by delivering the lowest cost resources – wind and solar – to the electric grid when demand is high. And the good news is that costs associated with energy storage have fallen 82% in the last 10 years. America is expected to reach 98 megawatts of installed capacity by 2030.

4. Diversified Income for Landowners

One of the biggest wins related to clean energy development is the income diversity it affords landowners. Farming is a tough business. It's dependent on the whims of Mother Nature and commodity prices are unpredictable. Harvesting clean energy, however, delivers an unmatched drought-proof cash crop that enables farmers to make investments into their operations, home improvements, help pay for college tuition, a well-deserved vacation, or even to keep the farm in the family. Nationally, clean energy projects paid American landowners $1.8 billion in land lease payments in 2023.

5. Energy Independence

Producing and using domestic, clean energy sources like wind and solar reduces our dependence on foreign countries for meeting our energy needs. Energy independence frees us from relying on adversarial nations and protects consumers from price fluctuations in the global market. In this way, we can maintain our economic stability. When we harness our abundant, American clean energy we achieve energy security, and that is national security.

America stands at the forefront of a clean energy expansion that prioritizes the development and use of American-made energy. This not only helps meet our own energy needs but bolsters our national economic outlook while securing our energy independence. When we take advantage of clean, affordable, reliable energy right here at home, we have greater control over our energy future and can protect our economy, too. Embracing American-made clean energy is the right thing to do.