WASHINGTON  – Businesses announced eight new large-scale clean energy projects in December, bringing the total number of major clean energy and clean vehicle projects announced in 2023 to 196 according to the latest monthly analysis of private sector announcements from E2. The eight new projects are expected to result in more than $1.8 billion in private-sector investments and create at least 2,600 jobs in five states.

Including December’s projects, E2 in 2023 tracked nearly $64 billion in announced private-sector investments to build major new clean energy projects, including factories to make solar panels, batteries and electric vehicles, as well as major renewable energy developments. The nearly 200 projects are spread across 39 states and Puerto Rico and are expected to create at least 61,000 new jobs — primarily in manufacturing and the electric vehicle sector.

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

“Every month we are seeing the spark ignited by the Inflation Reduction Act and other federal policies continue to heat up the economies of local communities nationwide. These policies are working – and now so is America. 

Clean energy is driving the biggest economic revolution we’ve seen in generations. That’s good news for workers and local economies in red states, blue states and in every region of America.”

The projects announced throughout 2023 builds on the growth in the nation’s clean energy sector that began with the passage of the Inflation Reduction Act (IRA) in 2022. In all, at least 274 large-scale clean energy projects have been announced in 41 states and Puerto Rico since the IRA passed, according to E2’s analysis. Companies announced at least 95,000 new jobs and more than $110 billion in capital investment in these projects since President Biden signed the law. (These figures reflect ongoing revisions to previous months’ announcement totals).

A full map and list of announcements is available at e2.org/announcements/.

December Highlights

  • Manufacturing projects accounted for seven of the eight announcements in December.
  • Solar and electric vehicle (EV) manufacturing projects each accounted for three announcements.
  • Ohio led all states with the most announcements in December with three, followed by South Carolina with two.
  • The largest announced investment was Waaree Energies’ $1 billion announcement to build its first U.S. solar factory in Brookshire, Texas.

2023 Highlights

  • Based on publicly available information from announcements that included new jobs and/or investment plans, the projects announced by businesses in 2023 are expected invest at least $64 billion and create a minimum of 61,653 new jobs. About one-third of the 196 announcements did not include anticipated job creation and/or private investment figures.
  • Georgia led the U.S. with the most total announcements in 2023 with 22, followed by Texas (15), Michigan (14), South Carolina (13), North Carolina (12), and Tennessee (10).
  • North Carolina received the most announced capital investments for major clean energy projects with $11.2 billion, followed by Georgia ($6.9 billion), Indiana ($5.8 billion), South Carolina ($5.7 billion), Michigan ($5.7 billion), and Nevada ($5.5 billion).
  • The EV industry led all sectors with the most announced projects with 85, followed by solar (53), and Battery/Storage (41). Additionally, EV projects accounted for more than half of all announced investments ($38 billion) and jobs (32,000).
  • More than 80 percent of all projects (162) and 95 percent of capital investments ($61 billion) announced were in the manufacturing industry.

Detailed below is a list of clean energy announcements tracked by E2 in December along with totals by state, sector, and industry type for all projects announced in 2023 that E2 tracked.

Clean Energy Works December 2023 | projects announced by date

Date Company/Org State Source Sector Type Jobs Announced Investments Announced
12/1 NSG Group OH Link Solar Manufacturing 20
12/5 Heliene MN Link Solar Manufacturing 130 $10 Million
12/7 OneH2 SC Link Hydrogen Manufacturing 87 $16 Million
12/11 Mobis North America OH Link EV Manufacturing 185 $14 Million
12/11 Star Charge OH Link EV Manufacturing
12/12 Scout Motors MI Link EV R&D 200 $11 Million
12/12 Envision AESC SC Link EV Manufacturing 450 $810 Million
12/22 Waaree Energies TX Link Solar Manufacturing 1,500 $1 Billion

Clean Energy Works Jan. — Dec. 2023 | projects announced by state

State Projects Announced Jobs Announced Investments Announced
Alabama 4 250 $298,000,000
Arizona 6 1,070 $4,360,000,000
Arkansas 1 100 $250,000,000
California 9 160 $1,600,000,000
Colorado 7 1,582 $880,000,000
Connecticut 3 100 $24,800,000
Florida 2 250 $72,000,000
Georgia 22 8,528 $6,929,500,000
Illinois 5 2,719 $2,063,500,000
Indiana 7 4,147 $5,805,000,000
Iowa 1 0 $0
Kansas 1 0 $0
Kentucky 6 1,056 $608,400,000
Louisiana 4 983 $1,213,500,000
Maine 1 200 $6,000,000
Maryland 1 145 $14,000,000
Massachusetts 3 0 $700,000
Michigan 14 3,953 $5,739,600,000
Minnesota 3 600 $155,000,000
Mississippi 1 300 $115,000,000
Missouri 1 250 $100,000,000
Nebraska 1 0 $0
Nevada 4 4,800 $5,500,000,000
New Mexico 5 2,542 $1,243,000,000
New York 7 1,489 $708,000,000
North Carolina 12 5,710 $11,280,600,000
Ohio 6 1,205 $991,800,000
Oklahoma 4 990 $2,450,000,000
Oregon 1 0 $0
Pennsylvania 2 157 $116,100,000
Puerto Rico 1 800 $0
Rhode Island 1 0 $0
South Carolina 13 7,964 $5,749,900,000
Tennessee 10 2,767 $1,688,500,000
Texas 15 6,313 $3,709,000,000
Utah 1 0 $0
Vermont 1 12 $0
Virginia 2 149 $8,500,000
West Virginia 2 100 $75,000,000
Wisconsin 6 262 $242,000,000

Clean Energy Works Jan. — Dec. 2023 | projects announced by sector

Sector Projects Announced Jobs Announced Investment Announced
EV 85 32,205 $38,727,400,000
Battery/Storage 41 14,277 $26,746,400,000
Solar 53 20,472 $10,773,200,000
Wind 17 1,227 $2,981,000,000
Hydrogen 13 1,623 $1,142,800,000
Grid, Transmission and Electrification 11 1,603 $748,000,000
Energy Efficiency 1 200 $6,000,000

*totals will not match overall findings as some projects are categorized into multiple sectors

Clean Energy Works Jan. — Dec. 2023 | projects announced by type

Type Projects Announced Jobs Announced Investment Announced
Manufacturing 162 60,329 $60,735,700,000
Generation 23 929 $2,749,700,000
R&D 7 245 $441,000,000
Recycling 4 150 $71,000,000

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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