Energy transition financing in the US hit a new record of $141 billion in 2022, driving 32 gigawatts of new renewable energy capacity, according to BloombergNEF and the Business Council for Sustainable Energy's Sustainable Energy in America 2023
Factbook. Trade issues, cost inflation and other headwinds slowed growth in 2022, but it was still a banner year for utility-scale, non-hydro energy storage additions. "[P]airing renewables with storage is becoming a common cost-effective option to displace fossil fuel projects," said the report.
