Last month, companies announced 11 large-scale clean energy and clean vehicle projects across the United States, according to the latest monthly analysis from national nonpartisan business group E2. Seven of November’s 11 announcements included details on employment and/or investment plans, adding up to nearly 2,000 new jobs and more than $1 billion in new private-sector investments.
Since August 2022 when the federal Inflation Reduction Act (IRA) was signed into law, companies have announced more than 265 major new clean energy projects in 41 states. Together, the projects that included details on expected employment and investment are expected to result in more than $108.3 billion in investment and create 93,000 new clean energy and clean vehicles jobs.¹
“As we close out the hottest year on record and hear even more dire climate predictions from the United Nations climate summit in Dubai, there is at least some good news in America,” commented E2 Executive Director Bob Keefe. “The IRA and other smart policies continue to prove that addressing climate change doesn’t hurt our economy, it helps it — driving jobs, investments and economic growth in every corner of the country.”
Top States For Clean Energy
Georgia continues to lead the U.S. in total number of clean energy projects announced with 26, followed by Michigan (21), South Carolina (21), and Texas (21). Georgia also leads in estimated jobs from announcements with nearly 15,000, followed by South Carolina (11,472) and Michigan (9,557). North Carolina leads all states in estimated private investments from announced clean energy projects with more than $19 billion, followed by Georgia ($14.7 billion), South Carolina ($11.6 billion), and Michigan ($10.6 billion).
In September, E2 released an economic impact report detailing the broader impact of clean energy projects spurred by the IRA from August 2022 to August 2023. According to public announcements tracked by E2 in the first year of the IRA, projects would directly create more than 74,000 new jobs and generate $86.3 billion in private investments. But when indirect and induced jobs and investments are included, the projects would support more than 400,000 jobs and add $156 billion to the nation’s GDP during construction, according to the E2 analysis. Billions more would be added to the GDP every year once the projects were up and operational.
November Clean Energy Highlights
- Manufacturing projects accounted for 10 of the 11 announcements in November.
- Electric vehicle (EV) and related battery manufacturing projects accounted for all estimated jobs and new private investments announced.
- Nebraska received its first major clean energy announcement since the IRA passed.
Clean Energy Announcements, November 2023
Date | Company | State | Source | Sector | Type | Est. Jobs | Est. Investment |
11/1 | Hyundai | GA | Link | EV | Manufacturing | 100 | $24 million |
11/3 | Neo Industries | KY | Link | EV | Manufacturing | 20 | $12.4 million |
11/13 | Mullen Automotive | CA | Link | EV | Manufacturing | ||
11/14 | Forge Nano | NC | Link | Battery/Storage | Manufacturing | 204 | $165 million |
11/14 | Toyota Industries Electric Systems North America | GA | Link | EV | Manufacturing | 250 | $69 million |
11/14 | ZF Group | SC | Link | EV | Manufacturing | 400 | $500 million |
11/17 | Simwon NA Corp | TX | Link | EV | Manufacturing | ||
11/19 | Nelnet Renewable Energy | NE | Link | Solar | Generation | ||
11/20 | Fortescue Metals Group | MI | Link | Battery/Storage | Manufacturing | 600 | $35 million |
11/28 | Dai Nippon Printing Co | NC | Link | Battery/Storage | Manufacturing | 350 | $233 million |
11/28 | Stardust Power LLC | OK | Link | Battery/Storage | Manufacturing |
(Source: E2)
You can view an updated map and list of announcements here.
¹Figures reflect ongoing revisions to previous months’ announcement totals.
