470,00046 Million+$147 million
EVelution Energy’s first solar-powered cobalt plant in the U.S. will produce enough battery-grade cobalt sulfate to power 470,000 EVs.The number of U.S. households – about one third overall –  whose electricity demands can now be met by wind power, according to Climate Central.  The amount Qcells is planning to invest to expand solar manufacturing operations in Georgia. 

In private sector news, Qcells announced a $147 million investment to expand solar manufacturing in Georgia, creating the U.S.’ first-ever complete solar supply chain. EVelution Energy will build the first U.S. solar-powered cobalt plant in Arizona, creating over 360 jobs and producing enough to power 470,000 EVS. Duke Energy announced two new solar sites in North Florida that will create 200-300 temporary jobs and Entek plans to invest $1.5 billion in a new manufacturing facility in Indiana, creating 642 jobs by the end of 2027. In South Carolina, solar panel manufacturer Hounen will invest $33 million to build a solar module factory in the state, and Volkswagen said the Inflation Reduction Act’s incentives have made it the best time to build an EV factory in the U.S., driving their decision to invest $2 billion in an EV factory in South Carolina.

According to the International Renewable Energy Agency’s (IRENA) annual report, global renewables capacity grew by almost 10% last year, with 83% of new power capacity from clean power sources. Climate Central’s weather power tool found that wind can now power 46.72 million households – a third of American homes. The New York Times reported that prices of lithium have fallen nearly 20% since January, making EVs more affordable, and a Cornell study found that reshoring solar panels in the next decade could cut greenhouse emissions by 30%, compared to relying on international supplies – a win for the US clean energy market.

This week, the Biden Administration commemorated National Renewable Energy Day by highlighting more than $1 trillion in clean energy and climate funding wins taking effect over the next decade as a result of their climate policies. They also announced over $200 million to modernize and expand hydropower. The Department of Energy announced a new set of reports that seek to strengthen public and private sector commercialization and development of clean energy technology. Finally, the DOE also shared plans for $590 million in funding for furthering bioenergy research, with four research centers receiving a total $110 million for FY 2023. This effort will help reduce emissions, ensure energy security, and create jobs in rural communities.

On the state-level, three utilities in Wisconsin received approval for a $649 million purchase of the state’s largest renewable energy plant, which could host 300 MW of solar and 165 MW of battery storage. 

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