North Carolina is rapidly becoming a clean energy success story, with economic benefits powering communities across the state. With 6,896 megawatts of operating wind, solar, and energy storage capacity, North Carolina ranks tenth nationwide and is positioned for explosive growth in the coming years.
The economic impact is substantial. The clean energy industry has already invested $19 billion in North Carolina renewable projects, with much more on the horizon. This growing sector currently employs 10,500 North Carolinians in well-paying jobs.
These current figures are just the beginning. According to a new economic analysis by ICF commissioned by the American Clean Power Association, the American clean energy industry is projected to deliver remarkable benefits to North Carolina over the next decade. The report forecasts that the Inflation Reduction Act would create approximately 32,100 jobs annually in North Carolina between 2025 and 2035 in industries including transportation and manufacturing.
This job creation comes alongside major economic expansion. The report projects $103 billion in new spending across North Carolina’s economy in the next decade. This activity is expected to add $51 billion to the state’s overall economy and increase total household incomes by $20 billion.
Beyond these impressive figures, clean energy delivers direct benefits to communities. Projects currently provide farmers and property owners with $45.3 million annually in land lease payments, a drought-proof income that helps stabilize rural economies regardless of weather conditions. Local governments receive $38.1 million annually in tax revenue, supporting schools and public services without raising residents’ taxes.
North Carolina’s clean energy portfolio can already power 1.2 million homes. These projects have prevented 9 million metric tons of carbon dioxide emissions — equivalent to removing nearly 2 million cars from the road—while avoiding the consumption of 3 billion gallons of water in 2023 alone.
Malcolm Woolf, President and CEO of the National Hydropower Association, explained in a press release, “In our industry alone, this landmark law helps incentivize capacity additions at existing hydropower projects, new pumped storage projects, marine energy and adding generation to existing non-powered dams. These opportunities amount to billions of dollars in potential investments for water power. . . Our industry is confident that this law can help water power play a key role in implementing an all-of-the-above American energy strategy that keeps rates low and the lights on.”
For a state with rural agricultural regions and growing urban centers, clean energy represents a bridge to economic opportunity that spans geography and demographics. As North Carolina continues to build momentum, the sector promises to deliver increasing economic returns while strengthening America’s energy independence.
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