South leads in clean energy projects, fueled by $2.4 billion investments from Inflation Reduction Act initiatives.

The Inflation Reduction Act (IRA) has resulted in nearly half of all new large-scale clean energy projects announced in the South, according to E2’s monthly tally of private-sector projects made possible by the IRA. In August, companies announced over $2.4 billion in investments in six new large scale clean energy initiatives, which are expected to employ at least 2,580 workers across five states. The projects included a $1.4bn sodium-ion battery manufacturing plant in North Carolina, $942 million in a solar cell manufacturing factory in New Mexico, and $1,4bn in a project that is expected to create 900 jobs. North Carolina remains the state with the most total investments announced for new projects, accounting for over $21 billion more than the next closest state. Solar module manufacturing capacity in the US now exceeds 31 gigawatts (GW), a four-fold increase since the IRA became law in 2022.