Clean energy revitalizing communities: 5 key projects
Since the passage of the Inflation Reduction Act (IRA) and bipartisan Infrastructure Investment and Jobs Act (IIJA) were passed approximately two and three years ago, respectively, the U.S. has seen an explosion of clean energy development. In the past 18 months alone, there have been over 300 clean energy project announcements, attracting over $123 billion in investments, creating 105,000 jobs, and revitalizing communities across the nation.
Here are a few notable economic trends from the clean energy sector:
The federal government awarded $4 billion in tax credits to more than 100 “advanced energy” projects across 35 states via the IRA’s “Qualifying Advanced Energy Project Tax Credit” (48C) program.
Many congressional districts, particularly those with underserved communities, are experiencing billion-dollar surges in clean energy and technology investment.
Midwestern states are ushering in a ‘new era in American manufacturing’, with approximately $30 billion in private-sector clean energy investments.
The U.S. has added 100,000 clean energy manufacturing jobs, with over one-quarter in the solar industry.
Recent renewable energy milestones include California’s main grid being fully powered by renewable energy for 15 minutes almost every day, and Texas generating more electricity from solar than coal for the first time in March 2024.
5 key clean energy projects
Featured in CICE’s Clean Energy Jobs & Economic Impact Reports, here are five examples of clean energy projects that have brought significant economic development to small cities and rural communities:
Qcells Solar Complex – Dalton & Cartersville, GA
South Korea-owned Hanwha Qcells is investing $2.5 billion to expand their Georgia capacity to include a fully closed-loop solar manufacturing operation—the largest clean energy investment in U.S. history.
LG Battery Factory – Queen Creek, AZ
Korean battery giant LG’s $5.5 billion two-factory battery manufacturing expansion is well underway in Arizona.
Stellantis EV Component Plants – Kokomo, IN
Stellantis is launching a $155 million expansion to manufacture electric drive modules for battery electric vehicles, part of nearly $3.3 billion in investments in Indiana to support its transition to electrification.
ONE Battery Complex – Big Rapids, MI
Michigan-based startup Our Next Energy (ONE) is opening a $1.6 billion battery gigafactory, bringing 2,100 jobs to the region and powering the equivalent of 200,000 electric vehicles a year.
Air Products and AES Green Hydrogen Facility – Wilbarger County, Texas
The first mega-scale green hydrogen production facility in the state will bring $4 billion in investments, 1,600 new jobs, and include 1.4GW of wind and solar power capacity.