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Summary

New York’s clean energy industry added 7,774 workers in 2023. With a 4.7-percent growth rate, clean energy is adding jobs much more quickly than overall employment in the state, which grew 1.6 percent. New York’s clean energy workforce ranked fourth nationally in 2023, with 173,731 jobs. Most of the workforce was in the construction and professional services industries. In 2023 in New York, there were 2.4 times more clean energy jobs than fossil fuel jobs. Seven New York counties made the list of the Top 100 counties for clean energy jobs in the entire U.S.: New York (49,103 jobs), Suffolk (15,582), Nassau (13,262), Queens (11,993), Westchester (9,612), Erie (9,448), and Kings (8,442).

• RENEWABLE GENERATION: Renewable generation grew 7 percent in 2023, bringing New York’s renewable generation workforce to 22,064—fifth-largest nationally. Solar and wind account for the majority of the sector’s workforce with 15,490 jobs and 4,482 jobs respectively.
• ENERGY EFFICIENCY: Energy efficiency is New York’s largest clean energy sector with 129,946 workers. The sector grew 3.1 percent in 2023.
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 5.8 percent in 2023, making the sector the third-fastest growing clean energy sector in the state. New York’s storage and grid modernization workforce totaled 4,895 in 2023—No. 8 nationally. 
• CLEAN VEHICLES: The fastest-growing workforce in New York’s clean energy industry is clean vehicles. Clean vehicles jobs grew 16 percent in 2023 and the sector now employs 14,981 workers. The sector grew much faster than New York’s gas/diesel vehicles sector, which ticked up 0.5 percent in 2023.
• CLEAN FUELS: New York’s clean fuels workforce is the state’s smallest clean energy sector, with 1,846 jobs. Despite being a small clean energy employer, clean fuels jobs in New York grew at a healthy 3.7 percent rate.

Pennsylvania’s clean energy workforce added 4,436 workers in 2023. With a 4.6 percent growth rate, clean energy is adding jobs much more quickly than overall employment in the state, which grew 1.2 percent. Pennsylvania’s clean energy workforce ranked 10th nationally in 2023, with 100,704 jobs.1 Most of the workforce was in the construction and manufacturing industries. Four Pennsylvania counties made the list of the Top 100 counties for clean energy jobs in the entire U.S.: Allegheny (13,215), Montgomery (9,722), Philadelphia (9,313), and Lehigh (8,103). 

• RENEWABLE GENERATION: Renewable generation grew 5.7 percent in 2023, bringing Pennsylvania’s renewable generation workforce to 12,014—13th-largest nationally. Solar and wind account for the majority of the sector’s workforce with 6,731 jobs and 3,255 jobs respectively. 
• ENERGY EFFICIENCY: Energy efficiency is Pennsylvania’s largest clean energy sector with 72,913 workers. The sector grew 4.2 percent in 2023, the nation’s 14th-fastest growing energy efficiency workforce. 
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 5 percent in 2023, making the sector the third-fastest growing clean energy sector in the state. Pennsylvania’s storage and grid modernization workforce totaled 4,200 in 2023—No. 11 nationally. 
• CLEAN VEHICLES: The fastest-growing workforce in Pennsylvania’s clean energy industry is in clean vehicles. Clean vehicles jobs grew 6.4 percent in 2023 and the sector now employs 10,141 workers. The sector grew much faster than Pennsylvania’s gas/diesel vehicles, which inched up 1 percent in 2023. 
• CLEAN FUELS: Pennsylvania’s clean fuels workforce is the state’s smallest clean energy sector, with 1,436 jobs. Despite being a small clean energy sector, clean fuels jobs grew at a healthy 4.4 percent rate. 

Summary

California’s clean energy workforce added 21,622 new workers in 2023, growing 4.1 percent and adding jobs at a much faster rate than the state’s overall employment, which grew by only 0.2 percent. The state ranked 1st for largest clean energy workforce nationally for 2023, with 544,604 clean energy jobs in total. The bulk of the workforce were in construction and professional services industries. In 2023, there were 7 times more clean energy than fossil fuel jobs in California. Two counties are in the top three list for most clean energy jobs in the nation: Los Angeles (101,437 jobs) and Orange (58,520 jobs), and five California counties are in the top ten.

• RENEWABLE GENERATION: Renewable generation grew 2.6 percent in 2023, bringing California’s renewable generation workforce to 136,591 individuals–the largest in the country. Solar and wind account for the majority of the sector’s workforce with 117,946 jobs and 8,132 jobs respectively.
• ENERGY EFFICIENCY: Energy efficiency is California’s largest clean energy sector with 302,176 workers. The sector grew 2.6 percent in 2023.
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 4.1 percent in 2023, making the sector the second fastest growing clean energy sector in the state behind clean vehicles. California’s storage and grid modernization workforce totaled 24,940 in 2023–by far the largest in the nation.
• CLEAN VEHICLES: The clean vehicles sector has the fastest growing workforce in California’s clean energy industry, growing
  14.3 percent in 2023 to employ a total of 74,923 workers. The sector grew much faster than the gas/diesel vehicles sector in California, which shrunk by -0.62 percent in 2023.
• CLEAN FUELS: California’s clean fuels workforce makes up the smallest clean energy sector in the state with 5,974 total jobs. Despite being the smallest clean energy sector, jobs in clean fuels grew at a rate of 1.6 percent in California.

Georgia’s clean energy workforce added 3,809 new workers in 2023, growing 4.9 percent and adding jobs at a much faster rate than the state’s overall employment, which grew 1.3 percent. Georgia had the 15th-largest clean energy workforce for 2023 among all 50 states, with 82,163 clean energy jobs in total. The bulk of the workforce were in construction and manufacturing industries. In 2023, clean energy accounted for over 9 times more jobs than fossil fuels in Georgia. Two Georgia counties made the top 75 list for most clean energy jobs by county in the nation: Fulton County (13,869 jobs) and Henry County (9,206 jobs).

• RENEWABLE GENERATION: Renewable generation grew 6.3 percent in 2023, bringing Georgia’s renewable generation workforce to 11,162 individuals—the 15th largest in the country. Solar and wind account for the majority of the sector’s workforce, with 8,194 jobs and 1,433 jobs respectively.
• ENERGY EFFICIENCY: Energy efficiency is Georgia’s largest clean energy sector, with 58,067 workers. The sector grew 4.4 percent in 2023, tied for the 10th-fastest growing energy efficiency workforce in the nation.
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 5.1 percent in 2023, bringing Georgia’s storage and grid modernization workforce to 4,593 individuals—the 9th largest in the nation. Clean storage made up the majority of the sector’s workforce, with 2,035 jobs.
• CLEAN VEHICLES: The clean vehicles sector was the third-fastest growing workforce in Georgia’s clean energy industry, growing 5.6 percent in 2023 to employ a total of 7,821 workers.
• CLEAN FUELS: Georgia’s clean fuels workforce makes up the smallest clean energy sector in the state with 519 total jobs. Despite being the smallest clean energy sector in Georgia, jobs in clean fuels grew at a rate of 9.1 percent, the strongest growth among all of Georgia’s clean energy sectors.

Summary

There are over 13,453 clean energy jobs in New Mexico. The clean energy workforce added 770 new workers in 2023, growing 6.1 percent and adding jobs at a much faster rate than the state’s overall employment, which grew 2.3 percent. The bulk of the workforce were in construction and professional services industries. In 2023, clean energy accounted for 19.4 percent of all energy jobs in New Mexico. The top three counties for most clean energy jobs are Bernalillo County (6,606 jobs), Santa Fe County (1,149 jobs), and Dona Ana County (1,052 jobs).

• RENEWABLE GENERATION: Renewable generation grew 3.8 percent in 2023, bringing New Mexico’s renewable generation workforce to 4,904 individuals. Solar and wind account for the majority of the sector’s workforce with 3,403 jobs and 1,192 jobs respectively.
• ENERGY EFFICIENCY: Energy efficiency is New Mexico’s largest clean energy sector with 6,486 workers. The sector grew 7.0 percent in 2023, the fastest growing energy efficiency workforce in the nation.
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 6.0 percent, with a workforce totaling 820 in 2023.
• CLEAN VEHICLES: The clean vehicles sector grew 9.5 percent in 2023 to employ a total of 1,073 workers making the sector the second fastest growing clean energy sector in the state behind clean fuels. The sector grew much faster than the gas/diesel vehicles sector in New Mexico, which grew 1 percent in 2023.
• CLEAN FUELS: New Mexico’s clean fuels workforce makes up the smallest clean energy sector in the state with 171 total jobs. Clean fuel jobs grew at a rate of 16.5 percent from 2022 to 2023.

Summary:

Colorado’s clean energy workforce added 3,298 new workers in 2023, growing 5.2 percent and adding jobs at a much faster rate than the state’s overall employment, which grew 2.5 percent. The state has the 18th largest clean energy workforce nationally in 2023, with 67,060 clean energy jobs in total. The bulk of the workforce were in construction and professional services industries. In 2023, clean energy accounted for over two times more jobs than fossil fuels in Colorado. Three counties made the top 100 list for most clean energy jobs in the nation: Denver County (12,968 jobs), Arapahoe County (7,539 jobs), and Jefferson County (7,209 jobs).

• RENEWABLE GENERATION: Renewable generation grew 3.9 percent in 2023, bringing Colorado’s renewable generation workforce to 18,718 individuals—the seventh largest in the country. Solar and wind account for the majority of the sector’s workforce with 9,017 jobs and 7,880 jobs respectively.
• ENERGY EFFICIENCY: Energy efficiency is Colorado’s largest clean energy sector with 37,835 workers. The sector grew 5.5 percent in 2023, the third fastest growing energy efficiency workforce in the nation.
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 4.4 percent in 2023, making this sector the third fastest growing clean energy sector in the state behind energy efficiency and clean vehicles. Colorado’s storage and grid modernization workforce totaled 3,383 in 2023— the 15th largest in the nation.
• CLEAN VEHICLES: The clean vehicles sector has the fastest growing workforce in Colorado’s clean energy industry, growing 10.1 percent in 2023 to employ a total of 5,148 workers. The sector grew much faster than the gas/diesel vehicles sector in Colorado, which shrunk 1.4 percent in 2023.
• CLEAN FUELS: Colorado’s clean fuels workforce makes up the smallest clean energy sector in the state with 1,976 total jobs. Clean fuel jobs shrunk 0.1 percent in Colorado from 2022 to 2023. 

Summary

North Carolina’s clean energy workforce added 4,408 new workers in 2023, growing 4.2 percent and adding jobs at a much faster rate than the state’s overall employment, which grew 2.5 percent. North Carolina had the 9th-largest clean energy workforce for 2023 among all 50 states, with 109,788 clean energy jobs in total. The bulk of the workforce were in construction and professional services industries. In 2023, clean energy accounted for over 11 times more jobs than fossil fuels in North Carolina. Two North Carolina counties made the top 30 list for most clean energy jobs by county in the nation: Mecklenburg County (19,586 jobs) and Wake County (17,122 jobs).

• ENERGY EFFICIENCY: Energy efficiency is North Carolina’s largest clean energy sector by jobs, with 80,817 workers. The sector grew 3.2 percent in 2023, tied for the 26th fastest-growing energy efficiency workforce in the nation.
• RENEWABLE GENERATION: Renewable generation grew 7.7 percent in 2023, bringing North Carolina’s renewable generation workforce to 13,579 individuals—the 8th largest in the country. Solar accounts for the majority of the sector’s workforce, with 9,819 jobs.
• STORAGE AND GRID MODERNIZATION: Jobs in battery, storage, and grid modernization grew 10.1 percent in 2023, making it the fastest-growing clean energy sector in the state. North Carolina’s storage and grid modernization workforce totaled 4,246 in 2023—the 10th largest in the nation. 
• CLEAN VEHICLES: The clean vehicles sector was the third-fastest growing workforce in North Carolina’s clean energy industry, growing 5.9 percent in 2023 to employ a total of 9,522 workers. The sector grew nearly 6 times faster than the gas/diesel vehicles sector in North Carolina, which grew only 1 percent in 2023.
• CLEAN FUELS: North Carolina’s clean fuels workforce makes up the smallest clean energy sector in the state, with 1,559 total jobs. Clean fuels jobs grew at a rate of 2.6 percent in North Carolina in 2023.

The U.S. is currently home 3.46 million Americans who work across the clean vehicle, renewable energy, energy efficiency, battery storage, grid modernization, and biofuel sectors, according to the latest annual employment analysis from BW Research and E2. And in just the first two years of the IRA, businesses announced $130 billion to fund nearly 340 major clean energy and clean vehicle projects that are expected to hire at least 110,000 new, mostly permanent, workers, according to analysis by E2.

The economic benefits from these projects reach well beyond the direct investments and jobs, however. According to separate modeling by BW Research, the projects announced in the first two years of the IRA will create 621,000 direct and indirect new jobs – including 154,000 permanent jobs – over the next five years. Just during the construction phase alone, these new projects would directly and indirectly add $237.5 billion to U.S. GDP; create $169.4 billion in new wages for workers, and generate nearly $50 billion in new tax revenue for federal, state, and local governments.

To gauge business sentiment on how repealing or rolling back the IRA would impact business investment, hiring, and expansion plans, BW Research focused its outreach on firms working with the following technologies: energy efficiency of buildings, renewable electricity generation, energy storage, grid, renewable fuels, and electric or alternative transportation. The survey captured impacts not just on new businesses or projects since the laws were signed but on long-established companies, with more than 60 percent of the surveyed firms saying they have been in business in the clean energy space for more than ten years.

The executive interviews conducted in parallel with the survey helped reveal other common themes that business owners and decision-makers have seen since the passage of the IRA, as well as key issues for them as they contemplate their businesses’ future. The stakeholder engagement process involved energy businesses in different technologies and regions of the country.

Lastly, the repeal or rollback of the IRA would have impacts that extend far beyond hiring, investment, and expansion plans. In addition to the benefits to businesses created by the IRA, the policy has sent a clear market signal for companies to invest, innovate, and expand in America.

If the policy is repealed, some executives surveyed said they would have to relocate their companies to another country. Others said they would go out of business entirely. Rural areas and small communities across America would be hurt the worst, since rural areas have seen the biggest uptick in clean energy projects, investments and jobs since the IRA.

Key Findings

• Repealing the IRA would hurt business or revenue.

• • More than half (53 percent) of firms said they would lose business or revenue as a direct result of an IRA repeal.
  • About 27 percent said they would lose projects or contracts.
  • About 21 percent of impacted firms said they would likely exit the clean energy space.
  • About 11 percent of firms said they would close their business entirely,
  • Nearly 9 percent of firms said they would have to relocate to another country.

• Businesses would have to lay off employees and cut wages.46 million Americans currently work in clean energy sectors and nearly 150,000 new jobs are being added every year.
  • About 21 percent of firms said they would have to lay off workers if the IRA is repealed.
  • Nearly 15 percent of firms said they would have to lay off 10 or more workers;
  • More than 10 percent of firms said they would have to lay off 25 or more workers.

• • About 13 percent said they’d have to freeze wages or rescind offers to prospective employees.

• The IRA is very important to business growth.
  • About 85 percent of respondents said the IRA was “very important” or “somewhat important” to growth.
  • Nearly 60 percent of respondents said have worked on, produced goods, or offered services related to clean energy projects directly impacted or funded by the IRA.
  • About 48 percent said that at least half of their business came from IRA-related projects.

Other Key Findings
(based on survey results and stakeholder interviews)

• The IRA has had a major impact on reducing risk and uncertainty in clean energy markets. A repeal would lead to drastic scaling back of projects and affect investor confidence in the industry.
• Rural areas and small communities would experience the largest negative effects of a repeal of the IRA. Rural regions have seen the biggest uptake in projects and economic benefits since the passing of the IRA.
• A repeal of the IRA would disrupt the rapid increase in solar and battery installations as a result of higher installation and materials costs, lower supply as smaller companies leave the market, and lower demand from customers.
• The IRA has led to the creation of good-quality jobs offering transition pathways for workers in fossil fuels and other industries, particularly in rural areas. The high rate of new project installations, also largely prevalent in rural areas, has brought about a high demand for skilled energy workers.

Summary:

In the first two years under the IRA, businesses announced $130 billion in investments in 338 major clean energy and clean vehicle projects that are expected to create at least 110,000 jobs, according to E2. These projects include factories that produce electric vehicles, batteries, solar panels, wind turbine parts and other goods that benefit from tax credits and other policies created by the IRA.

But the economic benefits from these projects reach well beyond the direct investments and jobs. This analysis is designed to measure the broader indirect and induced economic benefits and the multiplier effect from the investments in these IRA-fueled clean economy projects.

According to this modeling, if completed the projects announced in the first two years of the IRA will create 621,000 direct and indirect new jobs – including 154,000 permanent jobs— throughout the economy over the next five years. This would add $237.5 billion to U.S. GDP; create $169.4 billion in new wages for workers and generate nearly $50 billion in new tax revenue for federal, state, and local governments.

This report builds on the research published in 2023 by E2 and BW Research, detailing the overall economic impacts of the 210 major clean economy projects announced in the first year of the IRA. In the second year of the IRA, an additional 128 clean energy projects were announced.

This analysis uses the original $130 billion in estimated capital expenditures that companies announced in investments for new developments and extrapolates another $32 billion in additional capital expenditures for project announcements that did not include a dollar amount or required an updated estimate based on available information.

Secondary economic benefits extend throughout the economy. When new clean energy projects and clean vehicle factories and thousands of new jobs come to a community, local restaurants sell more meals. Schools, police departments and local public works projects benefit from increases in local tax revenues. Local manufacturers and wholesalers sell more goods to feed the growing local supply chain. And small businesses such as accounting firms, construction contractors, landscaping companies and caterers see new revenue streams.

Together, these direct and indirect jobs and investments tell a nationwide story of opportunity for domestic manufacturing, clean energy production, transportation and infrastructure modernization and American ingenuity, thanks to the clean energy incentives and investments made possible by the IRA.

They are also just the beginning as E2 continues to track new projects being announced every month.

E2 Clean Economy Works project tracking. Available at https://e2.org/announcements/.

Key Findings

This modeling shows that (if all projects are completed) the 338 major projects tracked by E2 between August 2022 to August 2024 will create or support more than 621,000 jobs, including 467,000 construction jobs each year during construction and another 154,000 jobs each year after that.

While the under construction, these projects will add $237.5 billion to the nation’s GDP, more than the U.S. telecommunications sector adds to GDP annually, and another $20.4 annually once they are up and running—more than the nation’s textile manufacturing industry.

Additionally, these projects will result in $49.8 billion in new tax revenues for federal, state, and local governments while under construction, and an additional $4.4 billion annually after that.

COMBINED ECONOMIC IMPACTS OF MAJOR CLEAN ENERGY PROJECTS ANNOUNCED OVER TWO YEARS OF THE IRA

• • $162 BILLION in total private capital investments
    +$17.5 BILLION in annual investments during operational life of projects

• • $169.4 BILLION in labor income during construction phase
    +$12.9 BILLION in labor income annually during operational life of projects

• • $237.5 BILLION added to U.S. GDP during construction phase
    +$20.4 BILLION added to U.S. GDP annually during operational life of projects

• • $49.8 BILLION in tax revenue generated during construction phase
    +$4.4 BILLION in tax revenue generated annually during operational life of projects

• • 467,000 JOBS each year for 5 years during construction phase
    +154,000 JOBS supported annually during operational life of projects

TOTAL INVESTMENTS INTO AND ANNUAL JOBS SUPPORTED BY CLEAN ENERGY PROJECTS, DETAILED BY ENERGY SECTOR

Summary:

Clean energy companies added almost 150,000 jobs in 2023, growing more than three times faster than overall U.S. employment to 3,460,406 clean energy jobs nationwide. Last year’s jobs spike corresponds with the first full year of historic clean energy investments and incentives under the landmark federal Inflation Reduction Act (IRA). Only the post-pandemic recovery surge of 2021 (152,000 jobs) added more new jobs in a single year.

Every clean energy sector grew at least twice as fast as overall national employment. Clean vehicles saw double-digit growth for the third consecutive year. Energy efficiency continued to lead the clean economy in total jobs. Jobs in manufacturing and other services (including vehicle maintenance and repair) accounted for nearly 60 percent of all new clean energy jobs.

Over the past three years, clean energy jobs increased 14 percent to nearly 3.5 million workers. By comparison, that’s more jobs than there are nurses nationwide. The 149,170 new clean energy jobs created in 2023 accounted for 6.4 percent of all jobs created economywide, and nearly 60 percent of all jobs in the entire energy sector.

This growth sets the stage for the next several years as the industry begins to feel the full impact from historic investments and incentives in the IRA. Three hundred and forty major new clean energy projects have been announced across 40 states and Puerto Rico since the IRA passed. In those announcements, companies have said they are creating more than 109,000 new jobs while investing over $126 billion in private-sector capital.

Key Findings

RENEWABLE GENERATION: Renewable generation sectors added more than 25,000 jobs in 2023, led by solar (+18,400) and wind (+5,700). In all, almost 560,000 Americans now work in renewable generation— a 14 percent increase since 2020. 

ENERGY EFFICIENCY: Energy efficiency remains the single-largest employer across the entire energy sector, employing nearly 2.3 million Americans. The sector accounted for half of all new clean energy jobs in 2023, adding nearly 75,000 workers (+3.4%). 

STORAGE + GRID MODERNIZATION: The storage and grid modernization sector added over 7,000 jobs (+4.6%) and now supports nearly 160,000 workers—more than there are highway maintenance workers.5 Jobs making power grids more resilient and able to handle more wind and solar generation led the sector, growing 5 percent followed by battery and energy storage (+4.3%). Since 2020, the sector increased employment by 15 percent. 

CLEAN VEHICLES: Clean vehicle makers continue to lead all sectors in growth, adding over 40,000 jobs (+11.0%). Electric vehicles (EVs) led the sector, adding over 17,000 jobs (+12.9%), followed closely by hybrid EVs with 15,900 jobs added (+10.5%). Over the past three years, clean vehicle jobs have jumped nearly 60 percent. The sector continued to outgrow the gas- and diesel-powered vehicle industry (+1.5%) and now employs over 410,000 workers. 

BIOFUELS: The smallest clean energy sector, biofuels added over 1,200 jobs in 2023. Since 2020, the sector has increased employment by 12 percent to more than 

2024 Clean Energy Employment Toplines

Summary:

Two years after the Inflation Reduction Act (IRA) was signed into law on August 16, 2022, companies have announced at least 334 major new clean energy and clean vehicle projects across the country, according to E2’s findings. Of the announcements, 278 included estimates on the number of jobs the projects are expected to create and/or investment amounts. Based on this information, the projects, if completed, would create 109,278 new jobs and bring in $126 billion in private investments.

The 118 announcements in the IRA’s second year are expected to create a combined 34,600 jobs. This extends a wave of IRA-fueled job gains unequaled in the clean energy sector’s history.

The number of major IRA-related clean energy projects announced during the past twelve months declined from the previous year, when 216 projects were announced (211 initially reported). This decline in announcements, while not unexpected, comes amid the uncertainty of the 2024 elections and more than 40 attempts to roll back or reduce parts of the IRA by the U.S. House.

Still, the clean energy projects, jobs and investments related to the IRA are bringing new opportunities and economic benefits to communities across the country. Forty states and two out of three congressional districts are home to at least one announcement. Growth from post-IRA projects tracked by E2 is particularly pronounced in Republican-led districts and states in the South. Nearly 60 percent of the announced projects – representing 85 percent of the investments and 68 percent of the jobs – are in Republican congressional districts. This despite the fact that no Republican voted for the legislation.

Sectors throughout the clean energy industry are expanding. Over the past two years, automakers and their suppliers have announced 132 new or expanded electric vehicle and battery plants and related factories in 23 states, including 39 clean vehicle manufacturing projects in the past year. Solar panel equipment manufacturers are building or expanding 53 factories in 23 states (24 projects in the past year). Renewable energy operators are planning 24 new large-scale wind and solar generation projects across 22 states (10 projects in the past year), while at least 51 new battery/storage projects are in development (19 in the past year, in nearly as many states).

Highlights

* 99 of the 334 announcements did not include investment estimates and 98 did not include job estimates.

• More than 90 percent of all projects announced since the IRA are in the manufacturing sector.
• Five states are home to 20 or more projects: Michigan, Georgia, South Carolina, Texas and North Carolina. Six others are home to at least 10: Ohio, Tennessee, California, New York, Indiana and Arizona. Three-dozen states are home to at least two projects.
• Clean vehicles accounted for more than a third of all projects announced within the past year (45 projects announced).
• Renewable energy companies announced 31 solar panel and equipment factories and major solar projects in the IRA’s second year, and at least four wind turbine factories or major wind projects.
• Red states and Republican congressional districts are benefitting the most from the IRA. In its full two-year history, more than half of all projects were in Republican districts, and 19 of the top 20 congressional districts for clean energy investments are held by Republicans. Nearly 40 percent of all 435 U.S. congressional districts are home to at least one announced project.
• The top congressional districts for clean energy investments are North Carolina’s 9th district with nearly $9.9 billion, represented by Republican Rep. Richard Hudson; Georgia’s 11^th congressional district with $6.6 billion, represented by Republican Rep. Barry Loudermilk; and Nevada’s 2^nd congressional district with $6.6 billion, represented by Republican Rep. Mark Amodei.
• The top congressional districts that would see the largest clean energy employment growth from new clean energy projects are North Carolina’s 9th district with 5,660 estimated jobs, represented by Republican Rep. Barry Loudermilk; Nevada’s 2^nd congressional district with $5,050 jobs, represented by Republican Rep. Mark Amodei; and South Carolina’s 2^nd congressional district, represented by Republican Rep. Joe Wilson.
• The congressional districts that are home to the most projects announced are: Ohio’s 9^th congressional district with eight projects, represented by Democratic Rep. Marcy Kaptur; Georgia’s 1^st congressional district with six projects, represented by Republican Rep. Earl Carter; North Carolina’s 9^th congressional district with six projects, represented by Republican Rep. Richard Hudson; and South Carolina’s 5^th congressional district with six projects, represented by Republican Rep. Ralph Norman.
• Foreign companies led or were involved with about 160 projects announced since the IRA became law – nearly identical to the number of announced projects from U.S.-based companies.
• South Korean companies have announced the most projects – about three-dozen in the past two years. Companies based in Michigan and California led announcements from domestic-based companies, with 22 each.

Previous Clean Economy Works Monthly Reports:

• Clean Economy Works – June 2024
• Clean Economy Works – May 2024
• Clean Economy Works – April 2024
• Clean Economy Works – March 2024
• Clean Economy Works – February 2024
• Clean Economy Works – January 2024
• Clean Economy Works – December 2023
• Clean Economy Works – November 2023
• Clean Economy Works – October 2023
• Clean Economy Works – September 2023
• Clean Economy Works – One-Year Review
• Clean Economy Works – July 2023
• Clean Economy Works – June 2023
• Clean Economy Works – May 2023
• Clean Economy Works – April 2023
• Clean Economy Works – March 2023
• Clean Economy Works – February 2023

Summary:

This analysis uses the original $86 billion in estimated capital expenditures that companies announced in investments nationwide for new developments and extrapolates another $20 billion in additional capital expenditures for project announcements that did not include a dollar amount or required an updated estimate based on available information. In addition to the direct benefits of these expenditures, new modeling from BW Research measures the broader economic benefits and the multiplier effect of the investments and jobs expected if the 210 announced projects were completed over the next five years.

When these broader economic benefits are factored in, BW’s modeling expects the 8 large-scale project announced in Arizona tracked by E2 between August 2022 and August 2023 to create or support more than 18,700 jobs and generate billions of dollars in new wages, tax revenue, and economic growth.

These secondary economic benefits are far-reaching. When new clean energy projects and clean vehicle factories and thousands of new jobs come to a community, local restaurants sell more meals. Schools, police departments and local public works projects benefit from increases in local tax revenues. Local manufacturers and wholesalers sell more goods to feed the growing local supply chain. And small businesses such as accounting firms, construction contractors, landscaping companies and caterers see new revenue streams.

Together, these direct and indirect jobs and investments tell a statewide story of opportunity for domestic manufacturing, clean energy production, transportation and infrastructure modernization and American ingenuity, thanks to the clean energy incentives and investments made possible by the IRA.

They are also just the beginning as E2 continues to track new projects being announced every month.

Key Findings

This report details the economic impacts resulting from the clean energy investments in Arizona that were announced after the passing of the IRA, allowing for a more detailed examination of the economic benefits that the clean energy investments bring to the state. The 8 major Arizona projects tracked by E2 between August 2022-August 2023 will create or support more than 18,700 jobs, including 15,800 jobs each year during construction and another 2,900 jobs each year after.

These private-sector investments and jobs will add $6.8 billion to Arizona’s Gross State Product (GSP) while the projects are under construction, and another $434.6 million annually once they are up and running.

Additionally, these projects will result in $1.4 billion in new tax revenues for federal, state, and local governments while under construction, and an additional $80.0 million annually after.

COMBINED JOBS, WAGE, TAX AND GSP IMPACTS OF MAJOR CLEAN ENERGY PROJECTS ANNOUNCED IN FIRST YEAR OF THE IRA

TOTAL INVESTMENTS INTO AND ANNUAL JOBS SUPPORTED BY CLEAN ENERGY PROJECTS, DETAILED BY ENERGY SECTOR