Since IRA, companies have announced 350+ major projects that will invest $130 billion, hire 113,500 new workers
WASHINGTON – Companies in October announced more than $1.2 billion in investments to build five new large-scale clean energy projects that are expected to create at least 912 permanent new jobs, according to E2’s monthly tally of private-sector projects made possible by the Inflation Reduction Act (IRA). The October announcements bring the total number of new major projects announced by businesses across the renewable energy, battery storage, transmission and grid, electric vehicle and other clean energy industries to 354 since the IRA was signed into law in August 2022.
Among the projects announced were major investments in South Carolina by automaker supplier Air Liquide, which plans to invest $150 million to expand its production capacity and pipeline to supply oxygen to LG Chem’s future electric vehicle battery plant and a $1 billion investment by Birla Carbon in South Carolina to build a synthetic graphite production facility that can support more than 40-gigawatt hours battery plants.
In all, at least 354 major clean energy projects have been announced in 40 states and Puerto Rico since the IRA became law, according to E2’s analysis. Companies have said they plan to invest more than $130 billion in these projects and hire more 113,500 workers. These figures reflect ongoing revisions to previous months’ announcement totals.
A full map and list of announcements is available at e2.org/announcements/.
Detailed below is a list of October clean energy announcements tracked by E2 along with totals by state, sector, industry type for all projects announced since E2 began tracking in August 2022.
Clean Energy Works October 2024 | projects announced by date
| Date | Company/Org | State | Source | Sector | Type | Jobs | Investment |
| 10/8 | Birla Carbon | SC | Link | Battery/Storage | Manufacturing | 124 | $1,000,000,000 |
| 10/9 | Tico Tractors | SC | Link | EV | Manufacturing | 38 | $1,600,000 |
| 10/15 | Air Liquide | TN | Link | Battery/Storage | Manufacturing | $150,000,000 | |
| 10/24 | TMC Transformers | GA | Link | Grid, Transmission and Electrification | Manufacturing | 110 | $15,300,000 |
| 10/31 | SolarCycle | GA | Link | Solar | Recycling | 640 | $62,000,000 |
Clean Energy Works | total projects announced by state Aug. 2022-Oct. 2024
| State | Projects Announced | Announced Investments | Announced Jobs |
| Alabama | 9 | $1.6 Billion | 1,511 |
| Arkansas | 2 | $250 Million | 500 |
| Arizona | 11 | $6.5 Billion | 2,400 |
| California | 14 | $1.6 Billion | 610 |
| Colorado | 7 | $880 Million | 2,382 |
| Connecticut | 4 | $24.8 Million | 100 |
| Florida | 3 | $172 Million | 400 |
| Georgia | 33 | $15.4 Billion | 16,703 |
| Iowa | 3 | N/A | 100 |
| Illinois | 7 | $2.6 Billion | 2,719 |
| Indiana | 12 | $8.3 Billion | 5,262 |
| Kansas | 3 | $110 Million | 180 |
| Kentucky | 8 | $2 Billion | 1,149 |
| Louisiana | 6 | $1.7 Billion | 1,109 |
| Massachusetts | 6 | $45.7 Million | 1,041 |
| Maryland | 4 | $316 Million | 325 |
| Maine | 1 | $6 Million | 200 |
| Michigan | 33 | $12.1 Billion | 12,205 |
| Minnesota | 4 | $155 Million | 700 |
| Missouri | 3 | $100 Million | 300 |
| Mississippi | 3 | $2 Billion | 2,340 |
| North Carolina | 23 | $21.1 Billion | 11,633 |
| Nebraska | 1 | N/A | N/A |
| New Hampshire | 1 | $16.3 Million | N/A |
| New Mexico | 7 | $2.2 Billion | 3,442 |
| Nevada | 7 | $6.6 Billion | 5,250 |
| New York | 13 | $791 Million | 3,079 |
| Ohio | 18 | $7.1 Billion | 4,854 |
| Oklahoma | 7 | $4.3 Billion | 1,810 |
| Oregon | 2 | $43 Million | N/A |
| Pennsylvania | 2 | $116.1 Million | 157 |
| Puerto Rico | 1 | N/A | 800 |
| Rhode Island | 1 | N/A | N/A |
| South Carolina | 29 | $15.5 Billion | 14,087 |
| Tennessee | 19 | $5.4 Billion | 4,921 |
| Texas | 26 | $8 Billion | 9,602 |
| Utah | 3 | $1 Billion | N/A |
| Virginia | 6 | $1.2 Billion | 885 |
| Vermont | 1 | N/A | 12 |
| Wisconsin | 6 | $242 Million | 262 |
| West Virginia | 4 | $1.3 Billion | 850 |
Clean Energy Works | total projects announced by sector Aug. 2022-Oct. 2024
| Sector | Projects | Jobs | Investment |
| Battery/Storage | 77 | 26,021 | $44,231,500,000 |
| Biofuel | 1 | 40 | $0 |
| Energy Efficiency | 1 | 200 | $6,000,000 |
| EV | 161 | 63,337 | $81,928,800,000 |
| Geothermal | 1 | 0 | $0 |
| Grid, Transmission and Electrification | 18 | 2,588 | $1,853,159,000 |
| Hydrogen | 18 | 3,528 | $6,092,800,000 |
| Semiconductor | 2 | 1,970 | $5,375,000,000 |
| Solar | 85 | 28,454 | $15,823,570,000 |
| Wind | 24 | 3,252 | $4,043,500,000 |
*totals will not match overall figures as some projects are categorized into multiple sectors
Clean Energy Works | total projects announced by type Aug. 2022-Oct. 2024
| Type | Projects | Jobs | Investment |
| Generation | 42 | 3,784 | $9,167,370,000 |
| Manufacturing | 289 | 107,570 | $120,434,559,000 |
| R&D | 8 | 878 | $163,800,000 |
| Recycling | 14 | 1,298 | $510,100,000 |
Additional Resources:
- E2: Clean Jobs America 2024 | Interactive Jobs Map & Full Data Tables
- E2: Clean Economy Works | IRA Two-Year Review
- E2: Clean Economy Works Tracker
- E2: Benefits to Rural America from the Inflation Reduction Act: Driving Jobs, Investment, and Economic Resilience
- E2: Clean Economy Works | An Economic Impact Analysis of Major Clean Energy Projects Announced Through Two Years of the Inflation Reduction Act
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E2 is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.