Top States for Clean Energy Investments and Jobs
Editorial StaffThe Facts -
- Tax credits in the IRA drive private investment in clean energy.
- Southern states are attracting nearly half of the new clean energy projects.
- Clean energy jobs are growing three times faster than overall U.S. employment.
The Impact of the Inflation Reduction Act on Clean Energy Investment
Since the Inflation Reduction Act (IRA) became law, private companies have announced
over $128 billion
in clean energy projects, promising more than 100,000 new jobs.
Southern States Lead in Clean Energy Projects
Five of the six new projects are in Southern states like Georgia, South Carolina, North Carolina, and Tennessee, attracting nearly half of all projects since August 2022.
“The Inflation Reduction Act has been wildly successful in our region,” says Stephen A. Smith, executive director of the Southern Alliance for Clean Energy (SACE).
Georgia's Electric Transportation Boom
Georgia is poised to become a leader in electric transportation thanks to significant private investments. Brian Kemp has embraced this opportunity, leading to a burgeoning supply chain and technical training programs.
North Carolina's Clean Energy Commitments
North Carolina has secured over $21 billion in commitments, potentially creating nearly 12,000 new jobs.
Political Dynamics and Clean Energy
No Republican voted for the IRA, but officials of all political stripes are attending ribbon cuttings at new facilities. This energy transition is recognized for its potential to drive economic development and job growth in the Southeast.
Clean Energy Job Growth Outpaces National Average
Jobs in clean energy are growing
three times faster
than overall U.S. employment. The nonprofit E2 reports that clean energy jobs accounted for 6.4 percent of all new U.S. jobs in 2023.
Nearly 3.5 million Americans work in renewable energy, with the South adding jobs at the fastest rate, aligning with recent investment announcements.
Bob Keefe, E2’s executive director, states that the macroeconomic impact of the IRA is significant. Clean energy economies are taking root in new regions, showing the policy's effectiveness.
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