Since the U.S. Inflationary Reduction Act (IRA) was passed last August, the energy-scale clean power sector has announced $150 billion in funding, 46 new production facilities and nearly 20,000 new jobs, according to the American Clean Power Association.
According to the American Clean Power Association, in the past eight months since the IRA was passed, more than $150 billion in domestic clean power investments have been announced.
This unprecedented level of investment exceeds the total investment in clean electricity utility projects over the past five years combined, from 2017 to 2021. More than 96 GW of electricity-scale projects have been announced in eight months. American Clean Power Association.
Solar energy plays a central role in the reduction and distribution of energy in the United States. By 2030, it is estimated that the IRA plans to install 950 million solar panels, 120,000 wind turbines and 2,300 grid-wide battery installations. While the investments are a clear sign of promising progress toward a zero-carbon economy, the American Clean Power Association warns that more is needed to ensure that future.
“To realize this clean energy future and ensure the full potential of these projects, the (American Clean Power Association) urges the administration and Congress to continue to improve trade policy, support next-generation technologies, finalize effective tax enforcement and work to enable common sense reform,” it said in a new report.
According to the American Clean Power Association, 46 clean energy facilities were announced in eight months, bringing an estimated 18,000 or more jobs to the United States.
According to it, 26 of the reported 46 facilities are solar energy production facilities, 10 are utility battery storage facilities and 10 are wind power facilities – two of which are intended for the development of offshore wind technology. The report includes a complete overview of each manufacturing facility, expected jobs created, expected online date, investment information and other relevant information.
Photo: ACP
The biggest single announcement has been the Hanwha Qcells facility, which includes a $2.5 billion investment to expand the company’s manufacturing capacity in the United States. It is expected to create up to 2,500 jobs in Georgia. The factory covers several aspects of the solar energy supply chain, including poly-ingots, wafers, cells and modules.
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One battery facility worth noting is the American Battery Factory, which manufactures lithium iron phosphate battery cells for residential and commercial energy storage. The site, expected to come online in the fourth quarter of 2024, would bring $3.1 billion in economic activity to the local county in Arizona.
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