- ACP’s new report covers the utility-scale clean energy growth potential in Colorado
- It expects the state to grow this capacity by 136% or 9.5 GW by 2030, from almost 7 GW at the end of June 2023
- Around $12 billion in capital investments are expected in wind, solar and storage technologies by the forecast year
The State of Colorado in the US is expected to add 9.5 GW additional utility scale clean energy capacity by 2030, including 4 GW solar, according to a new report by the American Clean Power Association (ACP).
With 4.25 GW wind and 1.25 GW battery storage additional capacity by 2030, the state’s total utility scale clean energy capacity is expected to rise to nearly 16.5 GW.
It will grow by 136% from 6.98 GW utility scale clean energy capacity at the end of Q2/2023 distributed between 5.19 GW wind, 1.55 GW solar and 237 MW storage capacity. These invest $48 million annually into the local communities, according to the association.
While this is enough electricity to power equivalent of 2.5 million homes or nearly all the homes in Colorado, investments in the utility scale segment are on a rise here as the report writers expect $12 billion in capital investments in the 3 clean energy technologies by 2030.
The Public Service Company of Colorado, the state’s largest utility, seeks to increase the share of wind, solar and storage technologies in its portfolio to 85% by 2030. Clean energy manufacturing is also growing beyond the 12 production fabs operational currently, after the Inflation Reduction Act (IRA) was passed in August 2022.
Notable among manufacturing projects announced is the 2 GW solar panel fab of India’s Vikram Solar in a joint venture with Phalanx Impact Partners and Das & Co., to be eventually scaled to 4 GW.
Europe’s Meyer Burger too has zeroed in on Colorado for its 2 GW solar cell fab which will exclusively supply to the company’s upcoming Arizona module plant.
ACP believes these efforts will drive job creation, increase tax payments and generate substantial land lease payments for the state. Currently it employs over 15,000 in wind, solar and storage segments.
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