Heather Boushey, Chief Economist, Investing in America Cabinet
New analyses of data from the Department of Energy, the Quarterly Census of Employment and Wages (QCEW), and the U.S. Energy Information Administration show clean energy job growth and record investments in the clean power sector since President Biden took office and enacted his Investing in America agenda—a key pillar of Bidenomics, the President’s economic plan to grow the economy from the middle out and bottom-up.
Strong investment in clean power generation and supply is critical to meeting President Biden’s goals of building the clean energy economy with high-quality job opportunities for American workers and addressing the climate crisis. Since the start of the Biden-Harris Administration, private companies have announced plans for about 94 GW of new clean power generation projects, representing an estimated $133 billion in investment as of August 2023 (Figure 1).[1] These announced investments in specific generation projects are a subset of a larger boom across American clean energy supply chains, including more than $70 billion of new investments in clean energy manufacturing and infrastructure.
These investments have spurred strong job growth. Between January 2021 and March 2023, the economy added 21,000 jobs in power generation and supply, reaching its highest level in more than a decade following a prolonged decline in employment in the industry (Figure 2).[2] Notably, more than half of these job...
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