This Week in Climate & Clean Energy Wins: Week of 7/28/23

$100 Million$278 Billion30,000
The amount of federal funding announced to increase the application of carbon management tech to cut emissions.  The amount of investments in the U.S. clean energy economy since the passing of the climate law nearly a year ago.The number of EV chargers major automakers plan to install as part of an EV charging network spanning the U.S. and Canada. 

Near the Inflation Reduction Act’s one-year anniversary, Climate Power released a report that showed how the law spurred $278 billion in new clean energy investments – creating 170,600 jobs across 44 states. Analysis from the American Clean Power Association also found that the climate law is responsible for opening nearly 80 clean energy facilities in the last year. Furthermore, new analysis shows that a clause in the Inflation Reduction Act is creating a self-sufficient U.S. battery supply chain by offering tax credits to American facilities and recycling programs. The Alliance for a Sustainable Future, a joint effort of the U.S. Conference of Mayors and the Center for Climate and Energy Solutions, found that newly available federal tax credits are making climate change mitigation and resilience projects more affordable for communities nationwide.

Stellanis and Samsung are building their second U.S. EV factory. GM reported record earnings in Q2 of this year to the tune of $3.2 billion, and NextEra Energy’s Q2 profits also jumped from $5.18 billion this time last year to $7.35 billion

In a wave of Japanese companies expanding their renewable assets in the U.S., Itochu Corp plans to invest around $2 billion in renewable power generation in the U.S., in the coming months. Meyer Burger also switched course and a solar cell factory previously planned for Germany is now slated to  be built in Colorado.

The Department of Energy (DOE) announced $33 million in funding for 14 research projects for clean energy topics like grid integration, solar and wind, and renewable manufacturing. DOE also announced $100 million in funding to increase access and application of advanced carbon management technologies, which are pivotal to cutting harmful emissions. DOE proposed a new energy efficiency standard that has the ability to save consumers over $11 billion on their energy and water bills and reduce carbon emissions by 501 million metric tons over the next 30 years. The Environmental Protection Agency (EPA), DOE, and National Energy Technology Laboratory (NETL) launched a series of funding opportunities to monitor and reduce methane emissions from the oil and gas sector, aiming to reduce inefficiencies and reach short-term emission reductions.

Lastly, Maine  Governor Janet Mills reached a compromise with labor unions on legislation to boost the state’s offshore wind industry this week. In Georgia, the Atlanta Business Chronicle reported that while the state’s solar jobs increased by 25% over the past five years to 2,022, they are expected to accelerate even more rapidly. In Michigan, business at Chart House Energy has increased fivefold in the past year thanks to the Inflation Reduction Act, allowing the Michigan-based company to double or triple their number of workers. 

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