WASHINGTON – Businesses announced 11 large-scale clean energy and clean vehicle projects in November, according to the latest monthly analysis from the national nonpartisan business group E2. Seven of the 11 announcements included details on employment and/or investment plans that would add up to nearly 2,000 new jobs and more than $1 billion in new private-sector investments.

Businesses have now announced more than 265 major new clean energy projects in 41 states since August 2022, when the federal Inflation Reduction Act (IRA) was signed into law. Together, companies are expected to invest more than $108.3 billion and create 93,000 new clean energy and clean vehicles jobs in the projects that included details on expected employment and investment. *These figures reflect ongoing revisions to previous months’ announcement totals.

Following is a statement from Bob Keefe, E2 executive director:
“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.

“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.”

Georgia continues to lead the U.S. in total number of clean energy projects announced with 26 followed by Michigan (21), South Carolina (21), 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.

An updated map and list of announcements is available at e2.org/announcements/.

November Highlights

  • Manufacturing projects accounted for 10 of the 11 announcements in November.
  • Electric vehicle 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 Works November 2023 | projects announced by date

Date Company/Org 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

Additional Resources:

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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.

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