This week, motor companies are driving new clean energy investments. Toyota unveiled new technology to improve EV range and performance towards the second half of the decade, lowering costs for consumers. Toyota also announced it will invest $50 million in a new automotive battery lab in Michigan. In Indiana, General Motors (GM) and Samsung SDI plan to build a $3 billion EV battery cell plant, creating 1,700 jobs, while GM also announced they will invest $632 million in an EV assembly plant in the state. 

Additionally, all 50 states are now on board to build a national EV charging network with help from Inflation Reduction Act tax credits – to support U.S. made EVs and to soften the policy landscape for further use of the technology.

The Inflation Reduction Act is projected to drive an impressive $200 billion in solar wages by 2035, according to a new report from Dartmouth and Princeton. A new survey from ACORE found that renewable energy investors unanimously view the U.S. as an increasingly attractive market for investment, and the Inflation Reduction Act, together with other hallmark Biden legislation, is spurring a “watershed” moment for U.S. manufacturing construction investments – leading a shift towards environmentally friendly manufacturing.

The Treasury Department released guidance this week on direct pay for clean energy tax credits, which allows nonprofits, state, local, and Tribal governments, publicly owned utilities, and other entities exempt from income taxes, to claim tax credits as a direct payment from the IRS. Additionally, the Bureau of Land Management proposed an 80% fee reduction for wind and solar developments on federal land. The Department of Energy this week announced its plans to invest $13.5 million in equitably growing America’s solar energy workforce and more than $192 million in advancing battery recycling technology. Thanks to investments like these, the Inflation Reduction Act is expected to create more than 1 million additional wind and solar jobs by 2035, according to a new study by BlueGreen Alliance. 

Lastly, the Nevada Governor signed a bill into law last Friday that will create a new clean truck and bus incentive program in the state. In Wisconsin, Alliant Energy started construction on a new solar project as part of the company’s clean energy blueprint, which includes the development of 12 solar projects across Wisconsin. In Arizona, Kore Power won an $850 million loan from the Department of Energy to build its first major U.S. manufacturing facility, which will create 700 construction jobs and 1,250 operations jobs. 

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