New Report Highlights $14 Billion in Utility-Scale Clean Power Investments in Colorado

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Sep 20, 2023, 10:00 ET

Recent projects and manufacturing pushes state's solar, wind, and storage workforce to over 15,000 jobs

Projections show Colorado will receive additional $12 billion in capital investment and 9,500 MW of capacity by 2030

WASHINGTON, Sept. 20, 2023 /PRNewswire/ -- A new report released today by the American Clean Power Association (ACP) illustrates the significant contributions utility-scale clean energy projects are making in Colorado. The report, Clean Energy Powers Colorado, finds that over one-third of the state's energy capacity is currently generated through solar and wind projects, making Colorado a top 10 state for wind and solar deployment. Clean energy capacity in the state now stands at nearly 7,000 megawatts (MW), enough to power 2.5 million homes.

Clean energy in the state has grown by way of nearly $14 billion of capital investment into not only utility-scale solar, storage, and wind projects, but also into a robust manufacturing sector. Colorado's 12 operating clean energy manufacturing facilities have created jobs throughout the state, helping increase the number of Coloradans working in the utility-scale sector to more than 15,750. These utility-scale clean energy jobs span from development and operations to manufacturing and construction roles.

Beyond simply expanding energy capacity, clean power projects also contribute revenue at the state and local levels throughout Colorado. Clean power projects have generated more than $20 million in state and local taxes annually and generated another $28 million for landowners collected through leases. This totals $48 million in annual contributions flowing into Colorado's economy. This revenue is crucial in helping to bridge budget shortfalls and fund essential services, as well as allowing families to pursue new income avenues and opportunities to hold onto land passed down through generations.

Colorado's clean energy capacity is expected to more than double by 2030, according to the report. ACP estimates new capacity to the state's energy grid of 1,250 MW of battery storage, 4,000 MW of solar, and 4,250 MW of wind, which will bring total clean power capacity in the state to nearly 16,500 MW. This increased capacity represents a 136% increase in clean power serving Colorado consumers, with $12 billion in capital investment expected in addition to $64 million in annual state and local tax revenue and $78 million in landowner lease revenue.

Read the full report.

About American Clean Power
The American Clean Power Association (ACP) is the leading voice of today's multi-tech clean energy industry, representing 750 utility-scale solar, wind, energy storage, green hydrogen and transmission companies. ACP is committed to meeting America's national security, economic and climate goals with fast-growing, low-cost, and reliable domestic power.

Follow ACP on LinkedIn, Instagram, Facebook, and Twitter, and learn more at cleanpower.org.

SOURCE American Clean Power Association