According to BloombergNEF, the U.S. clean energy sector saw impressive growth in 2021. In its report, the firm says that the sector pulled USD 105 billion as an investment last year. Large capital expenditure to support a low-carbon economy, impressive rise in the numbers of electric vehicles sold, record contribution to the power grid, and increased awareness and eagerness to embrace clean energy in lives are considered as the top reasons behind this impressive growth.

Both the government and private sector players played a vital role in its rise. Enterprises signed 17 GW of the power purchase agreement in 2021 which was more than the previous year. Tech giants like Microsoft, Amazon, Meta, Google, etc., lead the race here and accounted for more than 50% of capacity contracted through PPAs in 2021. Interestingly, more than 65 new companies like Zoetis, Deloitte, Under Armor, etc., have joined RE100, a global initiative that encourages companies to procure 100% clean energy. In totality, more than 350 companies are now part of this esteemed group.

Clean energy mission also has a strong federal backing that is helping it to thrive constantly. As per the report, Congress passed a bill in 2021, which included $80 billion for the energy transition, $28 billion for grid enhancement, $9.5 billion for hydrogen hubs and demonstration, and $7.5 billion for an electric vehicle charging network.

Depleting non-renewable energy resources, increasing global warming, rising air and water pollution levels, and increasing fuel prices are also acting as a catalyst to push for ‘Green Energy’. This report shows a very optimistic and healthy trend and gives us hope that we are moving in the right direction. As far as our green energy mission is concerned.