It is well worth noting that US businesses went on to announce eight new large-scale clean energy projects in December 2023, thereby bringing the overall major clean energy as well as clean vehicle projects that were announced in 2023 to 196, as per the latest monthly analysis in terms of private sector announcements from E2. The 8 new projects are anticipated to give out more than $1.8 billion when it comes to private-sector investments and also develop a minimum of 2,600 jobs across five states.
Taking into account December’s projects, E2 in 2023 monitored almost $64 billion in announced private-sector investments so as to build prominent new clean energy projects such as factories so as to make solar panels, batteries along with electric vehicles, and also major renewable energy developments. Around 200 projects happen to be spread throughout 39 states and also Puerto Rico and are thought to be creating a minimum of 1,000 new jobs, especially within the manufacturing as well as the electric vehicle industry.
Manufacturing projects went on to account for seven of the eight December announcements, having three solar and EV manufacturing projects. Three projects happen to be constructed in Ohio and two in the state of South Carolina. Apparently, the largest investment happened to be in Waaree Energy worth $1 billion, which will go on to help in the construction of its first U.S. solar factory in Brookshire, Texas.
According to E2’s executive director, Bob Keefe, every month they happen to see the spark ignited by the Inflation Reduction Act-IRA as well as other federal policies that continue to heat up the economies of local communities across the US. Such policies are operational, and also is America. Clean energy happens to be pushing the biggest economic revolution they have witnessed in generations, which is good news for workers as well as local economies across red states and even in blue states, and also across every region of America.
Apparently, the projects announced all across 2023 happened to be built on the progress in the nation’s clean energy sector that started with the passage of the IRA a year before that. Overall, a minimum of 274 large-scale clean energy projects have gone on to be announced across 41 states and Puerto Rico since the time the IRA passed, as per E2’s analysis. Companies went on to make an announcement of a minimum of 95,000 new jobs along with more than $110 billion when it comes to capital investment across these projects since President Biden inked the law.
Interestingly, the projects that were announced in 2023 are anticipated to comprise $63 billion in investment, as per E2, thereby creating a minimum of 61,000 jobs; however, around one-third of the announcements did not happen to include job creation and/or private investment numbers.
Interestingly, Georgia happened to have the most overall announcements in 2023 at 22, which was followed by Texas at 15, Michigan with 14, South Carolina with 13, North Carolina with 12, and lastly, Tennessee having 10.
North Carolina happens to have the highest amount of expected capital investments with $11.2 billion, which is followed by Georgia at $6.9 billion, Indiana having $5.8 billion, South Carolina amounting at $5.7 billion, Michigan at $5.7 billion, as well as Nevada at $5.5 billion.
It is well to be noted that the sector making the most announced projects was the EV industry with 85, which was followed by solar at 53 and battery/storage at 41. Over 80% of all projects and 95% of capital investments happened to be in the manufacturing domain.