Current pandemic has hit all sectors of the economy and is causing great economic uncertainty, lower consumer sentiment and increased investors anxiety. However, new analysis by ACORE states that investors are still fairly optimistic about growth of renewable and sustainable energy sector in the long run. Last year saw an unprecedented level of investments driven mostly by phasing out of renewable energy credits on federal tax. While the pandemic created some headwind in the short term, the industry outlook remains positive.
Key Takeaways:
- In 2018 ACORN launched an initiative to aid in garnering a trillion dollars in investment monies.
- The monies were to go towards developing renewable energy sources and supporting grid technologies.
- America’s Renewable Investment Goal is slated to finish accruing the needed funds by 2030. Meanwhile, the run towards the funds finish line is about an eight of the way accomplished.
“Investors and developers report continued confidence in the growth of renewable energy and energy storage over the next three years”