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11 clean energy projects totaling more than $1B were announced in November
11 clean energy projects totaling more than $1B were announced in November
(Credit: Nelnet Renewable Energy)

Businesses announced 11 large-scale clean energy and clean vehicle projects in November, according to the latest monthly analysis from national nonpartisan business group E2.

Seven of the 11 announcements included details on employment and/or investment plans that would add up to nearly 2,000 new jobs and more than $1 billion in new private-sector investments.

Since the Inflation Reduction Act (IRA) was signed into law, more than 265 major new clean energy projects have been announced across 41 states. Together, companies are expected to invest more than $108.3 billion and create 93,000 new clean energy and clean vehicle jobs in the projects that included details on expected employment and investment. These figures reflect ongoing revisions to previous months’ announcement totals.

Georgia continues to lead the U.S. in total number of clean energy projects announced with 26, followed by Michigan (21), South Carolina (21), Texas (21). Georgia also projects the most job growth (15,000), followed by South Carolina (11,472), and Michigan (9,557). North Carolina leads all states in estimated private investments from announced clean energy projects with more than $19 billion, followed by Georgia ($14.7 billion), South Carolina ($11.6 billion), and Michigan ($10.6 billion).

Last month, E2 found that businesses announced nearly $16 billion in new private-sector investments for 13 new large-scale clean energy projects, including electric vehicle, battery and solar panel factories, and hydrogen projects in eight states. Based on publicly available information from 12 of the 13 announcements that included new jobs and/or investment plans, the projects would create at least 7,800 jobs.

In September, E2 released an economic impact report detailing the broader impact of clean energy projects spurred by the IRA from August 2022 to August 2023. According to public announcements tracked by E2 in the first year of the IRA, projects would directly create more than 74,000 new jobs and generate $86.3 billion in private investments. When indirect and induced jobs and investments are included, the projects would support more than 400,000 jobs and add $156 billion to the nation’s GDP during construction, according to E2 analysis. Billions more would be added to the GDP every year once the projects were up and operational.

November Highlights

  • Manufacturing projects accounted for 10 of the 11 announcements in November.
  • Electric vehicle and related battery manufacturing projects accounted for all estimated jobs and new private investments announced.
  • Nebraska received its first major clean energy announcement since the IRA passed.

Clean Energy Works November 2023 | Projects announced by date

DateCompany/OrgStateSourceSectorTypeEst. JobsEst. Investment
11/1HyundaiGALinkEVManufacturing100$24 million
11/3Neo IndustriesKYLinkEVManufacturing20$12.4 million
11/13Mullen AutomotiveCALinkEVManufacturing  
11/14Forge NanoNCLinkBattery/StorageManufacturing204$165 million
11/14Toyota Industries Electric Systems North AmericaGALinkEVManufacturing250$69 million
11/14ZF GroupSCLinkEVManufacturing400$500 million
11/17Simwon NA CorpTXLinkEVManufacturing  
11/19Nelnet Renewable EnergyNELinkSolarGeneration  
11/20Fortescue Metals GroupMILinkBattery/StorageManufacturing600$35 million
11/28Dai Nippon Printing CoNCLinkBattery/StorageManufacturing350$233 million
11/28Stardust Power LLCOKLinkBattery/StorageManufacturing