Green Business Leaders Tout Investments Spurred By Inflation Reduction Act
According to a reportby the nonpartisan environmental economy organization E2, since the Inflation Reduction Act which was signed into law a year ago Wednesday, private industry has announced at least 210 major, new clean energy projects across the country.
The report says if the projects are completed they will create a minimum of 74-thousand jobs and bring in over $86.3 billion in private investments.
The report comes on the heels of a visit to New Mexico last week by President Joe Biden to tout businesses investing in clean energy thanks in part to the Inflation Reduction Act.
The president has been touring around the country highlighting other business expansion into clean energy.
E2 Executive Director Bob Keefe says there would be trouble if opponents of the IRA found a way to gut funding.
“Remember what we’re talking about here, we’re talking about 70-thousand plus jobs,” he said. “These jobs are happening in many places in parts of the country that need jobs more than ever and that have been left behind by previous economic transitions. I can tell you that the areas where these projects are going and these companies are going, this is welcome and long overdue news.”
According to the report, electric vehicle and battery manufacturing accounted for more than half of all new projects, with 115 battery and EV factories or expansions announced.
Renewable energy companies announced 44 solar panel and equipment factories and major solar projects, and at least 18 wind turbine factories or major wind products.