This Week in Climate & Clean Energy Wins: Week of 10/21


 $1.7 Billion$2.8 BillionNearly 500,000
BMW’s investment in a new EV factory in Spartanburg, South CarolinaPresident Biden’s newly announced funding for battery manufacturing and processingJobs projected to be created by the IRA in Colorado, Michigan, Nevada, Pennsylvania over the next 10 years

News continued to break this week about the massive economic acceleration brought by the Inflation Reduction Act. BMW announced a $1.7 billion new EV facility, and an EV charging company pledged $15 million for a U.S. factory. Reporters broke news that Audi, Stellantis, and Fisker are all planning new U.S. manufacturing investments soon. 

Some shifts were unbelievable in scale: previous estimates were revised to show that the IRA will grow U.S. wind, solar, and batteries by 21%, and double or even triple the share of electrified trucks and vans used in fleets by 2030. The EV startup, Arrival, announced it would restructure its entire business on the American market in order to capitalize on the IRA credits, and Tesla announced a goal of producing 1,000 GWh of batteries a year—more than is currently produced by the rest of the industry combined. 

The transformation extended to several swing states. In Nevada, two new critical mineral processing facility announcements will bring hundreds of jobs and hundreds of millions in new investment as the state aims to become the Silicon Valley of lithium to serve the new demand for EVs. Also driven by EVs, Wisconsin’s clean energy industry is recovering strongly from the pandemic, and a new study found that 500,000 Wisconsin homes are eligible for IRA weatherization grants covering up to 80% of costs.

Powering these seismic changes, the Biden administration continued announcing new climate protections and new programs funded by Democrats in Congress. The Departments of Energy and Interior announced $2.8 billion for battery manufacturing, another $30 million to speed up clean energy deployment, and $74 million to plug abandoned wells and address environmental injustice in Kentucky. Other new announcements included a new Environmental Protection Agency plan to crack down on super pollutant HFCs and a Department of Energy funding announcement to speed wind energy deployment.

Here’s a breakdown of the new EV manufacturing facilities worth billions this week: 

A new report projected that the Inflation Reduction Act will create nearly 500,000 jobs in just four states. [BlueGreen Alliance, 10/19/22]

The Inflation Reduction Act is spurring growth in Wisconsin as huge opportunities emerge from IRA tax credits:

Nevada will see new critical minerals manufacturing facilities, creating hundreds of clean energy economy jobs:

The Inflation Reduction Act changed the fundamental economics of energy, causing analysts to revise their projections of clean energy growth upward:

States that voted for Trump are poised to benefit from Inflation Reduction Act manufacturing incentives:

The Biden administration announced billions of dollars in funding for batteries, wind, and and oil and gas remediation, and announced new protections against hydrofluorocarbons: