WASHINGTON – Businesses announced eight major new clean energy and clean vehicle projects last month, bringing the total number of large-scale projects announced in the U.S. since the Inflation Reduction Act (IRA) was signed into law to 301, according to the monthly tally of private-sector announcements from E2. The new projects are expected to create at least 1,700 new jobs and invest over $3 billion.

Following is a statement from SANDRA PUROHIT, federal advocacy director for E2:

“Following another strong jobs report last week, the clean energy economy is once again showing no signs of slowing down. Federal clean energy investments in the IRA are working; they are spurring private investment, thousands more jobs in America’s resurgent manufacturing sector, and they will spark thousands more jobs in those communities to support the new workers and clean energy supply chains being built across the U.S.”

Among the projects announced in March was a $1.5 billion investment by AESC to expand its electric vehicle battery manufacturing operations in South Carolina and a $1 billion investment by rPlus Energies to expand its energy storage capacity as the Green River Energy Center solar project in Utah.

In all, at least 301 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 103,900 new jobs and nearly $121 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/.

March Highlights

  • Manufacturing projects accounted for 6 of the 8 announcements.
  • Michigan led all states with two announcements. After revisions to previous months, 29 projects overall have now been announced in Michigan, the most nationwide.
  • All 8 projects are in the battery/storage and EV sectors.
  • Half of the projects will be located in congressional districts held by Republicans and the other half in Democratic-controlled districts.

Detailed below is a list of clean energy announcements tracked by E2 in March 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 March 2024 | projects announced by date

Date Developer State Source Sector Type  Jobs  Investment
3/5 Toyota Material Handling and The Raymond Corporation NY Link Battery/Storage R&D 40 $2,000,000
3/6 Weller Truck Parts MI Link EV Manufacturing 130
3/6 LT Precision Co MI Link EV Manufacturing 70 $43,200,000
3/6 rPlus Energies UT Link Battery/Storage Generation $1,000,000,000
3/11 Blink MD Link EV Manufacturing 60
3/20 H&T Recharge KS Link Battery/Storage Manufacturing 180 $110,000,000
3/20 Graphite One OH Link Battery/Storage Manufacturing 160 $435,000,000
3/26 Envision AESC SC Link EV
Battery / Storage
Manufacturing 1,080 $1,500,000,000

 

Clean Energy Works | total projects announced by state Aug. 2022-Mar.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 3 180 $110,000,000
Kentucky 8 1,149 $1,958,400,000
Louisiana 5 1,039 $1,713,500,000
Massachusetts 6 1,041 $45,700,000
Maryland 2 205 $14,000,000
Maine 1 200 $6,000,000
Michigan 29 12,170 $11,686,700,000
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 12 2,799 $785,000,000
Ohio 18 4,854 $7,073,800,000
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 24 13,589 $14,396,900,000
Tennessee 15 4,735 $5,283,700,000
Texas 21 8,811 $7,769,000,000
Utah 2 0 $1,000,000,000
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-Mar.2024

Sector Projects Announced Jobs Announced Investment
Battery / Storage 68 23,946 $41,370,400,000
Biofuel 1 40 $0
Energy Efficiency 1 200 $6,000,000
EV 141 60,783 $79,827,700,000
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-Mar.2024

Industry Type Projects Announced Jobs Announced Investment
Generation 37 3,744 $8,615,000,000
Manufacturing 250 99,482 $111,848,859,000
Recycling 4 150 $71,000,000
R&D 10 610 $453,000,000

Clean Energy Works | total projects announced by congressional district Aug. 2022-Mar.2024

Party Projects Announced Jobs Announced Investments
Republican 169 71,351 $103,769,100,000
Democratic 95 23,968 $14,668,800,000
Unknown 37 7,630 $2,549,959,000

To speak with E2 staff and our member business leaders in states across the country, please contact Alex Frank—(703) 276-3264, afrank@hastingsgroupmedia.com or Michael Timberlake—(913) 645-9103, mtimberlake@e2.org.

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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