Clean energy is catching on in a big way.
According to the nonpartisan business advocacy group E2, at least 10 new, large-scale, clean energy projects and plant expansions in nine states were announced last month.
The group attributes these positive developments to the federal Inflation Reduction Act (IRA).
The projects are varied. Components for solar modules and electric vehicles will be manufactured in new facilities built in Illinois, Georgia, Texas, Colorado and Tennessee. Steel structures for renewable transmission and EV charging stations will be manufactured at a new facility in Indiana. EV batteries will be tested at a new battery lab in Michigan. Finally, large-scale solar will be generated at new facilities being built in Oregon and Michigan.
The projects are being initiated by a range of companies, small and large, domestic and international. For example, Korean automotive parts manufacturer NVH is constructing a new facility to make EV battery components in Locust Grove, Ga. The battery testing lab in Michigan is being constructed by Toyota at its North American R&D headquarters in York Township. Manner Polymers of Texas is building one of the new facilities where EV and solar panel components will be manufactured in Mount Vernon, Ill.
Each of the 10 projects will create anywhere from 60 to 1,500 new jobs. Investments range from $54 million to $250 million per project. Combined, E2 estimates the projects could create at least 3,100 jobs and nearly $1 billion in new private investment.
The group says the announcements last month are the latest in a continuing trend that was jump-started by the IRA last year. Since the law was passed, E2 says businesses have announced more than 190 new projects totaling over $83 billion in new private investment across 38 states that would create at least 67,000 jobs.
E2 is a national, nonpartisan group of business leaders, investors and professionals from every sector of the economy who advocate for smart policies good for the economy and the environment.
About The Author
LAEZMAN is a Los Angeles-based freelance writer who has been covering renewable power for more than 10 years. He may be reached at [email protected].