Clean Investment in 2023: Assessing Progress in Electricity and Transport

The report finds that while 2023 ZEV sales reached the top end of post-IRA projections, utility-scale clean electricity additions are lagging behind the pathways required to meet the IRA's 40% emissions reduction goal by 2030. Despite a record 32.3 GW of clean capacity added in 2023, the pace remains below the 46-79 GW average annual additions projected for 2023-2024. The authors identify non-cost barriers, such as permitting delays and grid interconnect queues, as the primary obstacles to electricity deployment.

• Zero emission vehicle (ZEV) sales in the US reached 1.43 million units in 2023, representing 9.2% of total light-duty vehicle sales. This figure is at the top end of the 8.1% to 9.4% share projected by Energy Innovation, the REPEAT Project, and Rhodium Group following the IRA.
• The US added a record 32.3 GW of zero-carbon electricity generation and storage capacity in 2023, a 32% increase over 2022. The additions were led by solar PV (18.4 GW), battery storage (6.4 GW), and wind (6.3 GW).
• Utility-scale clean electricity expansion is failing to meet the projections necessary for a 40% reduction in net GHG emissions by 2030. Actual 2023 additions (32.3 GW) were significantly lower than the projected 2023-2024 average annual range of 46 to 79 GW.
• The primary obstacles to achieving the IRA's full clean energy deployment potential are non-cost barriers, specifically citing supply chain challenges, backlogged grid interconnect queues, and siting and permitting delays.

APA

Energy Innovation (2024). Clean Investment in 2023: Assessing Progress in Electricity and Transport. https://energyinnovation.org/wp-content/uploads/Clean-Investment-in-2023-Assessing-Progress-in-Electricity-and-Transport.pdf

Chicago

Energy Innovation. Clean Investment in 2023: Assessing Progress in Electricity and Transport. 2024. https://energyinnovation.org/wp-content/uploads/Clean-Investment-in-2023-Assessing-Progress-in-Electricity-and-Transport.pdf.

Wikipedia

{{cite report |author=Energy Innovation |title=Clean Investment in 2023: Assessing Progress in Electricity and Transport |date=21 February 2024 |url=https://energyinnovation.org/wp-content/uploads/Clean-Investment-in-2023-Assessing-Progress-in-Electricity-and-Transport.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{energyinnovation2024clean, author = {{Energy Innovation}}, title = {{Clean Investment in 2023: Assessing Progress in Electricity and Transport}}, institution = {Energy Innovation}, year = {2024}, month = feb, url = {https://energyinnovation.org/wp-content/uploads/Clean-Investment-in-2023-Assessing-Progress-in-Electricity-and-Transport.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }