Third Year of Record Growth for U.S. Biogas Industry; Expected to Continue in 2024
WASHINGTON, Feb. 13, 2024 /PRNewswire/ -- Newly-released data from the American Biogas Council (ABC) indicates that 2023 was the third year of record growth across the U.S. biogas industry,1 with nearly 100 new projects coming online last year, representing $1.8 billion in capital investments. ABC expects this growth to continue into 2024, with more than 100 new projects already projected to go into operation this year.
- ABC expects this growth to continue into 2024, with more than 100 new projects already projected to go into operation this year.
- The growth of the U.S. biogas industry goes beyond increased domestic investments and renewable energy production.
- This growth accounts for 57% of 2023 capital investments and a corresponding 67% of new U.S. biogas production capacity.
- The inability for biogas projects to participate in the RFS when fueling electric vehicles continues to suppress growth in new power projects.