New Report Highlights $15 Billion in Utility-Scale Clean Power Investments in North Carolina

A newly-released report from the American Clean Power Association (ACP) details significant contributions being made in North Carolina from utility-scale clean energy projects. The report, Clean Energy Powers North Carolina, finds that nearly 10% of the state’s energy capacity is currently generated through solar and wind projects. Clean energy capacity in the state now stands at 6,433 megawatts (MW), enough to power 1.1 million homes. 

Growth in the state builds on historical investments totaling $15 billion in utility-scale solar, wind, and storage projects. The demand for the clean energy generated at these sites is strong, with corporations including Meta and Google making procurement agreements for North Carolinian clean power totaling over 1,600 MW. By 2030, North Carolina can anticipate an additional $14 billion of capital investment being made into the utility-scale clean power sector. 

Clean power projects throughout North Carolina are contributing beyond the expansion of energy capacity at both the state and local levels. North Carolina’s 27 operating clean energy manufacturing facilities have created jobs across the state, helping push the number of North Carolinians working in the utility-scale sector to nearly 10,000. Additionally, clean power projects have generated revenue for both local communities and the state overall. More than $30 million is collected annually from these projects in state and local taxes, and another $42 million in annual revenue is made by landowners leasing their property to clean power projects. This totals $72 million in annual contributions flowing into North Carolina’s economy. 

North Carolina’s clean energy capacity is expected to double by the end of the decade, according to the ACP report. ACP estimates additions to the state’s energy grid of around 8,000 MW of solar, 1,400 MW of land-based wind power, and 2,500 MW of battery storage capacity by 2030. Increased investment in clean energy is expected to increase annual tax revenues from these projects to $83 million, and push revenue for landowners to over $110 million in land lease payments. 

Read the full report.