Report: Major clean energy announcements surge 37% in May

Alliant Grant County Solar project Wisconsin

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 

DateCompany/OrgState SourceSectorTypeJobsInvestment
5/1Southern PowerMDLinkSolarGeneration  
5/1SunMax TechNYLinkSolarManufacturing242$193,000,000
5/2Medline & PowerFlexTNLinkSolarGeneration $2,370,000
5/2Green New Energy MaterialsORLinkBattery/StorageManufacturing545$140,000,000
5/3FortescueUTLinkHydrogenGeneration40$550,000,000
5/7Worksport Ltd.AZLinkSolarManufacturing280$6,000,000
5/7Columbia Vehicle GroupTXLinkEVManufacturing180$12,000,000
5/9LHP Engineering SolutionsNCLinkEVR&D35$3,600,000
5/13Silicon RanchMILinkSolarGeneration  
5/13DaimlerSCLinkEVR&D $43,000,000
5/15Ionic MTGALinkBattery/StorageManufacturing  

Clean Energy Works | total projects announced by state Aug. 2022-May 2024

StateProjectsJobsInvestments
Alabama71,420$1,613,000,000
Arkansas2500$250,000,000
Arizona102,370$6,451,000,000
California13160$1,600,000,000
Colorado72,382$880,000,000
Connecticut4100$24,800,000
Florida2250$72,000,000
Georgia2815,723$15,279,500,000
Iowa20N/A
Illinois72,719$2,563,500,000
Indiana114,562$7,816,000,000
Kansas3180$110,000,000
Kentucky81,149$1,958,400,000
Louisiana51,039$1,713,500,000
Massachusetts61,041$45,700,000
Maryland3205$16,370,000
Maine1200$6,000,000
Michigan3012,205$11,690,300,000
Minnesota4700$155,000,000
Missouri2300$100,000,000
Mississippi32,340$2,015,000,000
North Carolina2010,321$19,664,459,000
Nebraska10N/A
New Hampshire10$16,300,000
New Mexico62,542$1,243,000,000
Nevada65,250$6,600,000,000
New York133,079$791,000,000
Ohio184,854$7,073,800,000
Oklahoma61,490$3,650,000,000
Oregon20$43,000,000
Pennsylvania2157$116,100,000
Puerto Rico1800N/A
Rhode Island10N/A
South Carolina2513,769$14,408,900,000
Tennessee164,735$5,283,700,000
Texas228,811$7,769,000,000
Utah30$1,000,000,000
Virginia4299$445,500,000
Vermont112N/A
Wisconsin6262$242,000,000
West Virginia4850$1,335,000,000

Clean Energy Works | total projects announced by sector Aug. 2022-May 2024

SectorProjectsJobsInvestment
Battery/Storage7024,491$41,510,400,000
Biofuel140$0
Energy Efficiency1200$6,000,000
EV14561,338$81,286,300,000
Geothermal10$0
Grid, Transmission and Electrification162,348$1,809,859,000
Hydrogen 183,528$6,092,800,000
Semiconductor21,970$5,375,000,000
Solar7425,679$14,024,370,000
Wind202,694$2,952,500,000
*Totals will not match overall figures as some projects are categorized into multiple sectors

Clean Energy Works | total projects announced by type Aug. 2022-May 2024

TypeProjectsJobsInvestment
Generation413,784$9,167,370,000
Manufacturing259102,197$114,303,859,000
R&D12645$499,600,000
Recycling4150$71,000,000

Clean Energy Works | total projects announced by congressional district Aug. 2022-May 2024

PartyProjectsAnnounced JobsAnnounced Investments
Republican17772,806$105,889,470,000 
Democratic9826,098$15,366,400,000 
Unknown417,872$2,785,959,000 

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