Feb. projects to invest $4 billion, create at least 4,400 jobs,
WASHINGTON – More than 100,000 jobs—including 97,000 in manufacturing—have been announced as part of major new clean energy and clean vehicle projects since the Inflation Reduction Act (IRA) was signed into law after businesses announced 14 new large-scale projects in February, according to the monthly tally of private-sector announcements from E2. The new projects – which are expected to create at least 4,400 new jobs and invest $4 billion across 11 states – bring the total number of major clean energy and clean vehicle projects tracked by E2 to 292.
February’s analysis comes as hundreds of clean energy CEOs and executives from across the U.S. come to Washington to hear from industry thought leaders, meet with members of Congress and the Biden administration, and connect at in-person events.
Following is a statement from Michael Timberlake, E2 communications director:
“If it wasn’t clear before, it is now. Lawmakers in Washington would be foolish to extinguish the IRA and its economic spark fueling America’s next great economic expansion. The clean energy transition is creating thousands of jobs and billions in economic growth for both rural and urban workers, blue states and red states, and every region in the U.S.”
Among the projects announced in February was a $1.3 billion investment by Toyota for electric vehicle production at its Georgetown plant in Kentucky and a $900 million investment by Corning Inc. to build a manufacturing plant for solar parts in Michigan.
In all, at least 292 major clean energy projects have been announced in 41 states and Puerto Rico since the IRA passed, according to E2’s analysis. In those announcements, companies have also announced at least 102,000 new jobs and nearly $118 billion in capital investment for these projects. These figures reflect ongoing revisions to previous months’ announcement totals.
A full map and list of announcements is available at e2.org/announcements/.
February Highlights
- Manufacturing projects accounted for 11 of the 14 announcements.
- Michigan led all states with three announcements followed by North Carolina with two. 26 projects overall have been announced in Michigan while North Carolina is home to 18 and the most total investments ($19.2B).
- Nine of the 14 projects are in the battery/storage and EV sectors, including multiple EV battery plants.
- Four projects were in the solar energy sector, including two large-scale generation projects.
- Six projects will be located in congressional districts held by Republicans while three are in Democratic-controlled districts (five are still yet to be determined).
Detailed below is a list of clean energy announcements tracked by E2 in February along with totals by state, sector, industry type, and congressional district for all projects announced since E2 began tracking in August 2022.
Clean Energy Works February 2024 | projects announced by date
| Date | Developer | State | Source | Sector | Type | Announced Jobs | Announced Investment | ||
| 2/6 | Toyota | KY | Link | EV Battery/Storage |
Manufacturing | $1,300,000,000 | |||
| 2/7 | Sunflower Electric Power Corporation | KS | Link | Solar | Generation | ||||
| 2/13 | Siemens | NC | Link | Grid, Transmission and Electrification | Manufacturing | 475 | $149,859,000 | ||
| 2/14 | EnerSys | SC | Link | Battery and Storage | Manufacturing | 500 | $500,000,000 | ||
| 2/15 | SolarCycle | GA | Link | Solar | Manufacturing | 600 | $344,000,000 | ||
| 2/16 | Jing-Jin Electric North America | MI | Link | EV | Manufacturing | 100 | $16,500,000 | ||
| 2/20 | EPCOR SynerGen | NM | Link | Solar | Generation | ||||
| 2/21 | Shoals Technologies | TN | Link | Solar Battery/Storage |
Manufacturing | 550 | $80,000,000 | ||
| 2/23 | Energy Hardware | NY | Link | Wind | Manufacturing | 20 | |||
| 2/23 | Lucid | MI | Link | EV | R&D | 250 | $10,000,000 | ||
| 2/26 | Schaeffler | OH | Link | EV | Manufacturing | 650 | $230,000,000 | ||
| 2/26 | Fujihatsu & Toyotsu Battery Components | NC | Link | EV Battery/Storage |
Manufacturing | 133 | $60,000,000 | ||
| 2/27 | Corning | MI | Link | Solar | Manufacturing | 1,100 | $900,000,000 | ||
| 2/29 | UBE C1 Chemicals America, Inc. | LA | Link | Battery/Storage EV |
Manufacturing | 56 | $500,000,000 | ||
Clean Energy Works | total projects announced by state Aug. 2022-Feb.2024
| State | Projects | Announced Jobs | Announced Investments |
| Alabama | 6 | 1,350 | $1,603,000,000 |
| Arkansas | 2 | 500 | $250,000,000 |
| Arizona | 9 | 2,330 | $5,901,000,000 |
| California | 13 | 160 | $1,600,000,000 |
| Colorado | 7 | 2,382 | $880,000,000 |
| Connecticut | 4 | 100 | $24,800,000 |
| Florida | 2 | 250 | $72,000,000 |
| Georgia | 27 | 15,481 | $15,086,500,000 |
| Iowa | 2 | 0 | $0 |
| Illinois | 7 | 2,719 | $2,563,500,000 |
| Indiana | 10 | 4,222 | $6,416,000,000 |
| Kansas | 2 | 0 | $0 |
| Kentucky | 8 | 1,149 | $1,958,400,000 |
| Louisiana | 5 | 1,039 | $1,713,500,000 |
| Massachusetts | 6 | 1,041 | $45,700,000 |
| Maryland | 1 | 145 | $14,000,000 |
| Maine | 1 | 200 | $6,000,000 |
| Michigan | 26 | 11,807 | $11,635,600,000 |
| Minnesota | 4 | 700 | $155,000,000 |
| Missouri | 2 | 300 | $100,000,000 |
| Mississippi | 3 | 2,340 | $2,015,000,000 |
| North Carolina | 18 | 8,868 | $19,230,459,000 |
| Nebraska | 1 | 0 | $0 |
| New Hampshire | 1 | 0 | $16,300,000 |
| New Mexico | 6 | 2,542 | $1,243,000,000 |
| Nevada | 6 | 5,250 | $6,600,000,000 |
| New York | 11 | 2,759 | $783,000,000 |
| Ohio | 17 | 4,694 | $6,638,800,000 |
| Oklahoma | 6 | 1,490 | $3,650,000,000 |
| Oregon | 1 | 0 | $0 |
| Pennsylvania | 2 | 157 | $116,100,000 |
| Puerto Rico | 1 | 800 | $0 |
| Rhode Island | 1 | 0 | $0 |
| South Carolina | 23 | 12,509 | $12,896,900,000 |
| Tennessee | 15 | 4,735 | $5,283,700,000 |
| Texas | 21 | 8,811 | $7,769,000,000 |
| Utah | 1 | 0 | $0 |
| Virginia | 3 | 149 | $45,500,000 |
| Vermont | 1 | 12 | $0 |
| Wisconsin | 6 | 262 | $242,000,000 |
| West Virginia | 4 | 850 | $1,335,000,000 |
Clean Energy Works | total projects announced by sector Aug. 2022-Feb.2024
| Sector | Projects | Announced Jobs | Announced Investment |
| Battery / Storage | 63 | 22,486 | $37,823,400,000 |
| Biofuel | 1 | 40 | $0 |
| Energy Efficiency | 1 | 200 | $6,000,000 |
| EV | 136 | 59,280 | $78,276,600,000 |
| Geothermal | 1 | 0 | $0 |
| Grid / Transmission / Electrification | 16 | 2,348 | $1,809,859,000 |
| Hydrogen | 16 | 3,338 | $5,142,800,000 |
| Semiconductor | 2 | 1,970 | $5,375,000,000 |
| Solar | 67 | 24,179 | $13,519,000,000 |
| Wind | 20 | 2,674 | $2,952,500,000 |
*totals will not match overall figures as some projects are categorized into multiple sectors
Clean Energy Works | total projects announced by type Aug. 2022-Feb.2024
| Industry Type | Projects | Announced Jobs | Announced Investment |
| Generation | 36 | 3,744 | $7,615,000,000 |
| Manufacturing | 243 | 97,639 | $109,752,759,000 |
| Recycling | 4 | 150 | $71,000,000 |
| R&D | 9 | 570 | $451,000,000 |
Clean Energy Works | total projects announced by congressional district Aug. 2022-Feb.2024
| Party | Projects | Announced Jobs | Announced Investments |
| Republican | 164 | 69,878 | $100,783,000,000 |
| Democratic | 89 | 22,402 | $13,156,800,000 |
| Unknown | 39 | 8,786 | $3,949,959,000 |
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Additional Resources:
- E2: Clean Economy Works Tracker
- E2: Benefits to Rural America from the Inflation Reduction Act: Driving Jobs, Investment, and Economic Resilience
- E2: Clean Jobs America 2023 | Interactive Jobs Map & Full Data Tables
- E2: Clean Economy Works | An Economic Impact Analysis of Major Clean Energy Projects Announced In Year One of the Inflation Reduction Act
- E2: Clean Economy Works | IRA One-Year Review
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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.