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:

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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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