Southern states continue to drive major new projects
Companies announced more than $2.4 billion in investments in six new large-scale clean energy projects last month that are expected to employ at least 2,580 workers across five states, according to E2’s monthly tally of private-sector projects made possible by the Inflation Reduction Act (IRA). The August announcements bring the total number of new major projects announced across the renewable energy, battery storage, transmission and grid, electric vehicle and other clean energy industries to 340 since the IRA was signed into law in August 2022.
Southern states continue to benefit the most from the investments and tax incentives passed in the IRA, with five of the six new projects announced in August in the South. Since the IRA, nearly half of all new large-scale clean energy projects announced have been in the South.
Following is a statement from MICHAEL TIMBERLAKE, E2 COMMUNICATIONS DIRECTOR:
“Two years on from the IRA and clean energy is still investing billions into local economies across America every month. Clean energy companies are all-in on America’s energy future.”
Among the projects announced was a $1.4 billion sodium-ion battery manufacturing plant in North Carolina that is expected to hire more than 1,000 workers once operational, and a $942 million in a solar parts manufacturing factory in New Mexico that is expected create 900 jobs. One project announcement included no investment estimates.
In all, at least 340 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 $128 billion in these projects and hire more 111,500 workers. These figures reflect ongoing revisions to previous months’ announcement totals.
A full map and list of announcements is available at e2.org/announcements/.
August Highlights
- All six announcements are manufacturing operations.
- North Carolina remains the state with the most total investments announced for new projects. More than $21 billion in private-sector investments in clean energy projects have been announced in North Carolina – nearly $6 billion more than the next closest state.
- The solar energy sector saw the most new announcements in August, with four.
Detailed below is a list of 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 August 2024 | projects announced by date
| Date | Company/Org | State | Source | Sector | Type | Jobs | Investment |
| 8/1 | Solarix | VA | Link | Solar | Manufacturing | 104 | $63,000,000 |
| 8/7 | Ebon Solar | NM | Link | Solar | Manufacturing | 900 | $942,000,000 |
| 8/15 | Natron Energy | NC | Link | Battery/Storage | Manufacturing | 1,062 | $1,400,000,000 |
| 8/22 | RBW Sports & Classics | VA | Link | EV | Manufacturing | 144 | $8,000,000 |
| 8/23 | TMEIC Corporation Americas | TX | Link | Solar | Manufacturing | 300 | |
| 8/28 | Ice Industries | LA | Link | Solar | Manufacturing | 70 | $6,000,000 |
Clean Energy Works | total projects announced by state Aug. 2022-August 2024
| State | Projects | Est. Investments | Est. Jobs |
| Alabama | 9 | $1.6 Billion | 1,511 |
| Arkansas | 2 | $250 Million | 500 |
| Arizona | 10 | $6.5 Billion | 2,370 |
| California | 14 | $1.6 Billion | 610 |
| Colorado | 7 | $880 Million | 2,382 |
| Connecticut | 4 | $24.8 Million | 100 |
| Florida | 2 | $72 Million | 250 |
| Georgia | 29 | $15.3 Billion | 15,723 |
| Iowa | 3 | N/A | 100 |
| Illinois | 7 | $2.6 Billion | 2,719 |
| Indiana | 11 | $7.8 Billion | 4,562 |
| 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 | 30 | $11.7 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 | 27 | $14.5 Billion | 13,925 |
| Tennessee | 18 | $5.3 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-Aug. 2024
| Sector | Projects | Jobs | Investment |
| Battery/Storage | 75 | 25,897 | $43,081,500,000 |
| Biofuel | 1 | 40 | $0 |
| Energy Efficiency | 1 | 200 | $6,000,000 |
| EV | 154 | 63,089 | $81,409,900,000 |
| Geothermal | 1 | 0 | $0 |
| Grid, Transmission and Electrification | 16 | 2,348 | $1,809,859,000 |
| Hydrogen | 18 | 3,528 | $6,092,800,000 |
| Semiconductor | 2 | 1,970 | $5,375,000,000 |
| Solar | 83 | 27,114 | $15,261,570,000 |
| 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-Aug. 2024
| Type | Projects | Jobs | Investment |
| Generation | 42 | 3,784 | $9,167,370,000 |
| Manufacturing | 277 | 106,258 | $118,222,359,000 |
| R&D | 14 | 1,298 | $510,100,000 |
| Recycling | 6 | 238 | $101,800,000 |
Clean Energy Works | total projects announced by congressional district Aug. 2022-Aug. 2024
| Party | Projects | Announced Jobs | Announced Investments |
| Republican | 205 | 73,515 | $106,451,770,000 |
| Democratic | 117 | 29,991 | $18,731,759,000 |
| Unknown | 18 | 8,072 | $2,818,100,000 |
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.