This Week in Climate & Clean Energy Wins: Week of 11/4

See our state by state breakdown here.

This week’s third quarter earnings reports showed the breakneck speed of our economy’s transformation since passage of the climate law. Crediting the new law, utility executives in TexasMichigan, and Arizona announced clean energy expansions that will save their customers hundreds of millions of dollars in energy costs. These savings were augmented by the Biden administration’s announcement of $13 billion in funding to lower home heating costs by accelerating the deployment of modern, more efficient electric appliances and home heating and cooling systems. Companies like Sunrun reported record earnings powered by a massive increase in sales, with a 25% increase projected for Sunrun, 36% for Hyundai and Kia, and a 227% increase in battery storage installations. The Inflation Reduction Act is also powering a reshoring revolution—a new Deloitte report found that 62% of manufacturing companies have begun reshoring, partly due to the climate law’s domestic manufacturing incentives.

Utilities announced hundreds of millions in savings to consumers as a result of Inflation Reduction Act incentives for clean energy.

A new report showed a massive increase in manufacturing reshoring in 2022 driven in part by Inflation Reduction Act incentives. [Bloomberg, 11/2/2022]

Clean energy companies showed high earnings and massive sales increases in the third quarter.

The Biden administration announced billions in funding for clean energy projects to lower heating costs, create jobs in underserved areas, and deliver environmental justice to marginalized communities. [WHNBC, 11/2/22]

UAE and U.S. agreed to spur $100 billion in clean energy projects. [Reuters, 11/1/2022]