The United States launches the 2030 trillion-dollar investment plan for renewable energy

ACORE, the U.
S.
Renewable Energy Council, this week announced the launch of a new plan to drive $1 trillion
in new U.
S.
private sector investment in renewable energy and grid-enabled technologies by 2030.

According to reports, the goal of this plan is to accelerate investment and deployment of renewable energy
in the United States.
The program will be managed by the Renewable Energy Finance Partnership (PREF), a senior member of ACORE, and one of the nation's
foremost financial resources for renewable energy for education.

"Renewables have come a long way and are economically competitive, but if we accept the conventional projections, with annual investment and deployment levels declining in just a few short years due to an uneven policy playing environment, we will lose American leadership and tremendous economic benefits from dominance in this booming global industry," said Gregory Wetstone, president and CEO of ACORE, "through $1 trillion in investment activity by 2030.
The investment community is charting a path to modernize America's energy infrastructure, creating tremendous economic opportunities
over the next decade and beyond.
”

ACORE's four specific policy reforms are:

1.
Long-term federal policy commitments to support carbon-free power generation, also to address externalities related to greenhouse gas emissions;

2.
Federal, state, and territorial policies that promote the modernization of the national grid, including rules that allow renewable energy to compete fairly in the electricity market, as well as new incentives for energy storage and other grid technologies;

3.
Continue to expand state renewable portfolio standards to support increasing renewable power deployment;

4.
Reform the site selection and approval processes that promote renewable energy and transmission, and accelerate the growth
of renewable energy.

The $1 trillion investment plan for 2030 comes from a new survey released by ACORE
.
This is based on a survey of major U.
S.
banking institutions, asset managers, private equity firms, and other financial firms on the future of renewable energy investment in the United
States.

Specifically, survey respondents believe investor confidence in the U.
S.
renewable energy sector is expected to remain high over the next three years, with an average confidence level of 84 percent
.

Two-thirds of respondents said they plan to increase their investments in U.
S.
renewable energy by more than 5 percent by 2018 compared to 2017, and half of them plan to increase their investments by more than
10 percent.

Between 2018 and 2030, 89 percent of respondents who chose to invest in U.
S.
renewable energy companies said they plan to double
their U.
S.
renewable energy investment under supportive policies and market scenarios compared to the base case.

More than half (58 percent) of respondents said the lack of federal policy drivers for renewable energy after the expiration of the Production Tax Credit (PTC) and Investment Tax Credit (ITC) is an obstacle
to continued growth at current levels.