AUSTIN (KXAN) — Experts say clean energy is necessary to help mitigate climate change, and investments in clean energy are vital in that effort.
There continues to be a need to reduce greenhouse gas emissions that contribute to hotter days and warmer nights. Investing in clean energy serves the economy well through the creation of more jobs in renewable energy sectors.
Putting dollars into clean energy helps to promote energy security. And, public health can be improved by helping to reduce air pollution.
When we write and speak about clean energy we are referring to solar and wind technology, zero-emission vehicles, and heat pumps among others. The good news is the investments in these innovations are the highest they’ve ever been.
Between 2018 and 2023, the investments by the public and private entities have more than tripled, according to Climate Central. It’s gone from under $80 billion in 2018 to $248 billion in 2023. There was a record $76 billion investment in April, May, and June of this year—a 27% increase versus the same three-month period in 2023.
Texas is in second place, behind California, in the amount of dollars dedicated to investing in clean energy sources. Data from Climate Central shows that between the first quarter of 2018 and the second quarter of 2024, the Golden State invested $191 billion, 52% of those dollars going to zero-emission vehicles. Our Lone Star State, in second place, has spent $144 billion–32% of that money going to solar power.
Florida has invested 34% of its $63 billion investment in solar power, according to Climate Central data. Georgia and North Carolina finish the Top 5 with $50 billion and $32 billion in investments respectively, with more than a third of the investments in zero-emission vehicles.
Climate Central’s experts broke down which regions of the country have had a clean energy impact. Zero emissions were highest across the West Coast, much of the Upper Midwest, and throughout the Mid-Atlantic and New England areas.
Wind power was at the head of the investment list in the Northern Plains, Northern Rockies, and both Kansas and Oklahoma because, there, high wind speeds are common.
Heat pumps lead to similar investments in much of the Southeast as this technology is the popular choice for heating and cooling homes and businesses.
Solar energy investments were highest in Texas, Arkansas, Idaho, Florida, Maine, Utah, Virginia, and Wisconsin, according to Climate Central. In other words, there wasn’t one specific region where the investment in solar was higher than any other region.
Looking at it another way, Climate Central data shows zero-emission vehicles lead clean investments in 27 states, solar power in 10 states, wind power in nine states, and heat pumps in four states.
Heat pump technology provides cooling and heating for homes. A heat pump is an alternative to air conditioners and furnaces. Heat pumps can save homeowners hundreds of dollars on energy bills.
As aforementioned, Texas has invested $144 billion in said energy investments. Nearly a third has gone to solar energy. Solar farms can be profitable depending on how much land there is available which determines the number of solar panels that can be added. A quarter of the Lone Star State’s investments have gone to wind farms. There have also been modest investments in zero-emission vehicles.
The signs are encouraging when it comes to the public and private sectors making expenditures in clean energy sources. By investing in solar panel farms, wind turbines, vehicles that don’t belch out harmful emissions and heat pumps several are doing their parts to help safeguard our future as we continue to combat climate change.