Five Numbers You Need to Know About This Year’s State of the Market Report 

Clean Energy Buyers Association (CEBA) CEO Rich Powell presented CEBA’s annual State of the Market report at the organization’s Spring Summit in Minneapolis, noting, “Corporate energy customers are not just buyers of clean energy; they are market-makers who drive 21^st-century industries to expand the backbone of economic development in the United States and abroad… The future is bright for CEBA, its members, and all the stakeholders who can benefit from a low-cost, reliable, carbon emissions-free global electricity system.” 

Here are the highlights of the State of the Market presentation: 

100 Gigawatt (GW) Milestone 

100 GW is a new milestone and how much corporate energy buyers are shifting demand for clean energy: “In 2024, commercial and industrial customers brought total clean energy deal capacity up to 100 GW. This is not just a milestone, but a market shift. These energy customers are shifting the composition of the U.S. grid. Nearly three percent of clean energy generation on the U.S. grid comes from commercial and industrial customers completing deals. This growth is not just confined to the United States. In the Asia Pacific region, corporate power purchase agreements (PPAs) tripled from 2020 to 2023, to 10 GW. Demand for more clean energy deals is growing, to achieve low-cost, reliable, carbon emissions-free global electricity systems.” 

35-50% growth expected 

Electricity demand is expected to grow 35-50 percent in the United States by 2040: “This significant growth is necessary to meet the demand from different sectors of the economy. Sectors like technology, manufacturing, healthcare, and retail are making bold commitments, diversifying the corporate clean energy customer profile. In the United States, electricity demand is expected to grow 35-50 percent by 2040. Corporate energy customers are essential to financing clean energy projects to meet this demand.” 

70% solar 

That’s how much solar procurement is leading the pack within new clean energy capacity: “Corporate energy customers are creating a portfolio of myriad sources of clean energy. Solar energy leads the pack, accounting for 70 percent of new clean energy capacity procured by energy customers. However, geothermal and nuclear are growing rapidly. Nuclear accounted for 6.7% of announced capacity last year, but its high capacity factor means it is anticipated to generate over 22% of the energy output expected from the announced capacity — surpassing wind’s projected 13%.”  
 

Possible 8.4% price increase 

Electricity prices could increase 8.4% without U.S. federal production and investment tax credits: “The technology-neutral Clean Electricity Production (45Y) and Clean Electricity Investment (48E) federal tax credits are essential to keep electricity prices low. Repealing these pro-growth credits could increase prices by 8.4 percent nationally next year, adding $110 to the average household bill. States like Minnesota could see nearly a 10 percent increase. These tax credits are foundational in fostering economic growth and energy security, clearing the path for CEBA members to help enable more investment and innovation in the United States. Congress should retain the tech-neutral tax credits.” 

2050 transmission expansion

According to the latest U.S. National Transmission Planning Study, that’s when transmission capacity will need to be doubled to ensure grid reliability, something that can only be achieved with permitting reform: “A major obstacle in deploying investment in clean energy projects is the lack of adequate transmission infrastructure. The Federal Energy Regulatory Commission (FERC) has emphasized the need for long-term transmission planning that integrates corporate commitments. Still, the United States needs to double transmission capacity by 2050 to ensure reliability. A key solution is permitting reform. Permitting modernization that accelerates approvals of clean energy projects and much-needed new transmission capacity is essential.”