While it seems that the green energy transition in the US could take ages with the current political climate in the country, American businesses are increasingly turning to a low-carbon portfolio when it comes to investments.
The fact was revealed in a recent survey of the nation’s leading financial institutions, which discovered high near-term confidence for renewable energy growth over the next three years and a strong appetite for energy storage.
Some of the respondents’ most cited reasons behind this confidence are the low costs of green energy; increased demand from corporations; and a desire to benefit from sunsetting tax credits. In 2018 alone, the private sector invested nearly $57 billion in renewable energy and enabling grid technologies. The amount is a promising step towards the goal set by the American Council on Renewable Energy last year, which aims to reach $1 trillion in green energy investments by 2030.