President Trump has set a bold goal to make the United States energy dominant and reduce electricity prices by 50%. A new ACORE report released today highlights a crucial opportunity for the U.S. to achieve this vision and strengthen its global energy leadership. As electricity demand grows rapidly for the first time in decades, the report, “Tax Stability for Energy Dominance,” examines how American innovation across diverse energy sources — such as wind, solar, geothermal, hydropower, energy storage, hydrogen, and advanced nuclear — can drive energy dominance.
Bipartisan federal energy tax credits have been key to creating a stable market, spurring growth in U.S. clean energy and investment. The latest enhancements to these credits have further strengthened domestic energy development. The report underscores that maintaining these tax credits will support continued energy expansion while delivering benefits like job creation, lower power costs, improved grid reliability, enhanced global competitiveness, and reshored manufacturing.
Ray Long, ACORE President, said that “America needs an ‘all of the above’ energy strategy if we want to achieve energy dominance. We have an extraordinary opportunity to meet the demand growth challenge with affordable, reliable, and secure energy, so we can’t afford to forfeit this chance by limiting our own advantage.”
Lesley Hunter, ACORE’s Senior Vice President of Policy and Engagement and lead author of the report, mentioned “The appetite to invest in and develop American clean energy resources today is stronger than ever. Providing the industry with policy certainty is absolutely critical to maintain the progress we’ve made and ensure continued growth in the market and the broader economy.”
To assess the clean energy market’s future without major policy changes, ACORE surveyed clean energy investors and developers in December 2024. The results show strong sector growth plans over the next three years, with more than half of respondents expecting to increase activity by over 10%, provided tax credits remain unchanged.
However, uncertainty around tax credits could slow progress. About 84% of investors and 73% of developers indicated they would scale back clean energy activities if tax credits were reduced. Notably, 80% of companies with over $1 billion in investments stated they would significantly cut their plans, risking the loss of tens of billions in private investment.
The report offers key policy recommendations to support these goals: maintaining crucial clean energy tax credits, preserving transferability provisions, and ensuring multi-year policy stability for energy generation and manufacturing projects. These measures aim to lower energy costs, meet rising demand, boost U.S. investment, and enhance national security.
