The amount raised by venture capital and private equity funds in 2022 for solutions to combat the climate crisis.The year of the Paris Climate Agreement. The International Energy Agency lauded the U.S.’ Inflation Reduction Act as the world’s most important climate action since. The amount announced by the Biden Administration this week in grant funding and investments for new energy programs and  clean manufacturing research and development.

See our state by state breakdown here.

The Inflation Reduction Act and the U.S. commitment to invest in a climate shift were widely applauded by world leaders this week at the World Economic Forum’s Annual Meeting in Davos, Switzerland. The International Energy Agency called it the most important climate agreement since the Paris Agreement, and European Commission leaders announced efforts to replicate its successes in clean technology and innovation. According to the latest Energy Information Administration Report, thanks to the Inflation Reduction Act, by 2024 renewable energy is expected to create over one fourth of the US’ electricity generation. 

The Biden Administration continues to make headway on dedicated funding for new community-centered, clean energy programstransition to clean energy programs, and public-private partnerships to advance fusion energy across the country. Combined with new investments in the future of clean manufacturing research and development – the Administration announced a stunning total of over $534 million this week to advance clean energy sources. 

Additionally, a new report from the International Energy Agency forecasts “the global market for key mass-manufactured clean energy technologies”would be worth roughly  $650 billion per year by 2030, and would generate nearly 14 million jobs in the same timeframe, more than double the 6 million jobs available today. The VC sector looking at climate solutions  also saw an influx of capital, having raised $64 billion in the last fiscal year. Beyond investments, the Inflation Reduction Act is also bringing in massive revenue to the American economy: U.S. offshore wind sales brought in over $4 billion in federal revenue in 2022. Looking ahead, funding from the Inflation Reduction Act will jumpstart lithium production in the U.S., starting with projects in Nevada, North Carolina, and Tennessee, and clean energy providers project they can provide 24/7 clean energy in the Bay Area by 2025. 

Companies and private entities are expanding on climate action in 2024, with jumpstarts to a U.S.-based lithium supply chain, 24/7 clean energy achievement, and massive money raises from venture capital and private equity funds searching for climate solutions: 

In new reports, the International Energy Agency forecasts $650 billion in clean energy sector investments through 2030, a new study says 90% of Americans would save money and conserve energy by switching to EVs, and U.S. offshore wind sales had a strong 2022 as the market looks toward economic challenges ahead: 

The Biden Administration this week announced over $534 million in funding for new community-centered, clean energy programs, transition to clean energy programs for communities across the country,  funding for public-private partnerships to advance fusion energy, and new investments for clean manufacturing research and development. The Department of Energy also rolled out a series of tax credits and rebates for Americans switching to clean-energy lifestyles:  

On the state level, a Houston-based energy company was selected for a federal program to develop new EV battery technology, and Iowa is opening a plant that will recycle wind turbine blades into reusable materials: