Report: Major clean energy announcements surge 37% in May
Companies announced 11 new large-scale clean energy projects last month that are expected to employ at least 1,300 new workers and invest $950 million, according to a monthly report from E2. The 11 new projects announced in May brings the total number of new major projects announced across the renewable energy, battery storage, transmission and grid, electric vehicle and other clean energy industries to 316 since the Inflation Reduction Act (IRA) was signed into law in August 2022.
May’s announcements signal a significant increase in new projects after March and April, with total projects announced in 2024 jumping 37% after last month. Forty-one new major projects have now been announced so far in 2024.
“Despite rising market uncertainty amid growing threats from lawmakers, America’s clean energy economy showed once again why it is an economic powerhouse that continues to attract investment from across the globe,” said Michael Timberlake, E2 communications director.
Among the projects announced in May was a $550 million investment for a green hydrogen production facility in Arizona and a $193 million investment in Georgia to build a 300,000-sq-ft manufacturing hub that will hire 242 new workers to build parts for clean energy companies including QCells and Tesla. Three project announcements included no investment estimates, and five projects included no job estimates.
Six of the 11 projects announced will be in congressional districts represented by Republicans compared to just one project in Democratic-held districts (districts of the four other projects are yet to be determined). Since the IRA passed, 56% of major clean energy projects announced have been in GOP-held districts and 85% of total investments announced have been for projects announced in GOP-held districts.
In all, at least 316 major clean energy projects have been announced in 40 states and Puerto Rico since the IRA passed, according to E2’s analysis. In those announcements, companies have also announced at least 106,776 new jobs and over $124 billion in capital investment for these projects. These figures reflect ongoing revisions to previous months’ announcement totals.
A full map and list of announcements is available at e2.org/announcements/.
Other May Highlights
- Manufacturing industry received the most projects (5), followed by generation (4).
- North Carolina became the fifth state with more than 20 new clean energy projects announced since the IRA.
- Arizona became the 11th state with at least 10 or more new clean energy projects announced since the IRA.
- The solar energy sector received the most new announcements with five.
Detailed below is a list of clean energy announcements tracked by E2 in May along with totals by state, sector, industry type, and congressional district for all projects announced since E2 began tracking in August 2022.
Clean Energy Works May 2024 | projects announced by date
| Date | Company/Org | State | Source | Sector | Type | Jobs | Investment |
| 5/1 | Southern Power | MD | Link | Solar | Generation | ||
| 5/1 | SunMax Tech | NY | Link | Solar | Manufacturing | 242 | $193,000,000 |
| 5/2 | Medline & PowerFlex | TN | Link | Solar | Generation | $2,370,000 | |
| 5/2 | Green New Energy Materials | OR | Link | Battery/Storage | Manufacturing | 545 | $140,000,000 |
| 5/3 | Fortescue | UT | Link | Hydrogen | Generation | 40 | $550,000,000 |
| 5/7 | Worksport Ltd. | AZ | Link | Solar | Manufacturing | 280 | $6,000,000 |
| 5/7 | Columbia Vehicle Group | TX | Link | EV | Manufacturing | 180 | $12,000,000 |
| 5/9 | LHP Engineering Solutions | NC | Link | EV | R&D | 35 | $3,600,000 |
| 5/13 | Silicon Ranch | MI | Link | Solar | Generation | ||
| 5/13 | Daimler | SC | Link | EV | R&D | $43,000,000 | |
| 5/15 | Ionic MT | GA | Link | Battery/Storage | Manufacturing |
Clean Energy Works | total projects announced by state Aug. 2022-May 2024
State Projects Jobs Investments Alabama 7 1,420 $1,613,000,000 Arkansas 2 500 $250,000,000 Arizona 10 2,370 $6,451,000,000 California 13 160 $1,600,000,000 Colorado 7 2,382 $880,000,000 Connecticut 4 100 $24,800,000 Florida 2 250 $72,000,000 Georgia 28 15,723 $15,279,500,000 Iowa 2 0 N/A Illinois 7 2,719 $2,563,500,000 Indiana 11 4,562 $7,816,000,000 Kansas 3 180 $110,000,000 Kentucky 8 1,149 $1,958,400,000 Louisiana 5 1,039 $1,713,500,000 Massachusetts 6 1,041 $45,700,000 Maryland 3 205 $16,370,000 Maine 1 200 $6,000,000 Michigan 30 12,205 $11,690,300,000 Minnesota 4 700 $155,000,000 Missouri 2 300 $100,000,000 Mississippi 3 2,340 $2,015,000,000 North Carolina 20 10,321 $19,664,459,000 Nebraska 1 0 N/A New Hampshire 1 0 $16,300,000 New Mexico 6 2,542 $1,243,000,000 Nevada 6 5,250 $6,600,000,000 New York 13 3,079 $791,000,000 Ohio 18 4,854 $7,073,800,000 Oklahoma 6 1,490 $3,650,000,000 Oregon 2 0 $43,000,000 Pennsylvania 2 157 $116,100,000 Puerto Rico 1 800 N/A Rhode Island 1 0 N/A South Carolina 25 13,769 $14,408,900,000 Tennessee 16 4,735 $5,283,700,000 Texas 22 8,811 $7,769,000,000 Utah 3 0 $1,000,000,000 Virginia 4 299 $445,500,000 Vermont 1 12 N/A Wisconsin 6 262 $242,000,000 West Virginia 4 850 $1,335,000,000
Clean Energy Works | total projects announced by sector Aug. 2022-May 2024
Sector Projects Jobs Investment Battery/Storage 70 24,491 $41,510,400,000 Biofuel 1 40 $0 Energy Efficiency 1 200 $6,000,000 EV 145 61,338 $81,286,300,000 Geothermal 1 0 $0 Grid, Transmission and Electrification 16 2,348 $1,809,859,000 Hydrogen 18 3,528 $6,092,800,000 Semiconductor 2 1,970 $5,375,000,000 Solar 74 25,679 $14,024,370,000 Wind 20 2,694 $2,952,500,000
Clean Energy Works | total projects announced by type Aug. 2022-May 2024
Type Projects Jobs Investment Generation 41 3,784 $9,167,370,000 Manufacturing 259 102,197 $114,303,859,000 R&D 12 645 $499,600,000 Recycling 4 150 $71,000,000
Clean Energy Works | total projects announced by congressional district Aug. 2022-May 2024
Party Projects Announced Jobs Announced Investments Republican 177 72,806 $105,889,470,000 Democratic 98 26,098 $15,366,400,000 Unknown 41 7,872 $2,785,959,000
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