Time to get off the solarcoaster and join the Climate (R)evolution

The evolution of the renewable energy marketplace over the last 20 years has faced supply chain challenges, policy fights, and restrictions on the progress needed to be made in the United States. Today, the everyday American is coming face to face with the reality of severe climate events and rising global temperatures. Yet, climate activists and companies have persevered during these ‘peaks and valleys’ showing strength in the clean energy transition. Clean energy is now at a historical moment in time where policy, technology, and finance have aligned in a way to make a generational impact against the climate crisis.  

One of those major moments in history, which celebrated its one year anniversary recently, is the Inflation Reduction Act (IRA). The IRA is the most influential climate legislation in our nation’s history. Combined with the Bi-Partisan Infrastructure Act, clean energy has experienced significant growth supported by policies in place to create stability. Striking confidence in policymakers, developers, and investors, the alignment between policy, technology, and finance has stemmed public investment interest that can be leveraged to unleash billions of private capital into climate action. As we reflect on the wins and support received to advance the clean energy transition, there is still more to be done. 

Since the IRA was passed in 2022 there has been a rise in demand for clean energy and this trend isn’t slowing down. In one year, the U.S. solar industry saw a 47% increase in installed gawatts-direct current (GWdc) of capacity in the first quarter of 2023 compared to Q1 2022. Also seen in the first quarter of 2023, solar comprised of 54% of all new electric generating capacity. More and more solar and storage projects are coming into development or online. To meet rising demands, domestic manufacturing has also taken it up a knotch. Upscaling manufacturing will take time but there are already at least 16 GW of module manufacturing facilities currently under construction. Additionally, the Administration has continued it’s promise to invest in clean energy. Most recently, they made $20 billion available from a federal “green bank” for clean energy projects.  

These investments into, and development of, clean energy solutions wouldn’t be possible without the intersection of policy and public interests. There is continued debate among policymakers about the impact the IRA has made, but the numbers don’t lie. The fight to keep impactful legislation in place is not just on The Hill, but there is a push from everyday Americans. Americans are growing more worried about extreme heat than any other climate impact, according to another poll out today from George Mason University’s Center for Climate Change Communication. As more severe weather events impact the well-being of many Americans they are placing more focus and pressure on solving this life-impacting problem. 

Climate change is no longer a concept used or political position, but a true physical threat. Enough so that major insurers are pulling out of areas that are now known to have regularly occurring severe weather events caused by climate change because the increased risks are too great. This has opened to door for many to invest in the clean energy transition. Industry advocates are now at the front line backed by, for the first time, policy, technology, and finance. 

Just because there are major movements happening in the clean energy revolution does not mean it’s time for coasting. The job is not done yet and there is more that needs to be done if we aim to reach carbon neutrality in the U.S. by 2030. This year has been another eye-opener to just how important it is to keep going. From witnessing the hottest consecutive days the world has ever seen to devastating wildfire smoke from Canada shut down New York City to record-breaking heat in the Southwest to the waters off of Miami shattering climate records making it feel more like a hot tub than an ocean. 

I look forward to connecting with the more than 30,000 clean energy professional convening at the upcoming RE+ event in Las, Vegas. We will have the chance to discuss the impacts and future of the clean energy transition and game plan to execute new and exciting solar and storage projects. We need to fight to make sure the hard earned policy gains are not lost, and continue to push forward for the support the market needs to continue to thrive. It is up to us to take advantage of the historical point in time we have reached as policy, technology, and finance are aligned in a way that can make lasting, generational, progress against the climate crisis.