Since IRA, $150 billion investment, 46 factories, 18,000 jobs in renewable energy
Another aspect of wind, solar and energy storage are the jobs and taxes generated. Each job generates income taxes, every wind and solar farm generates income for the land owner and they also pay property taxes on the value of the installation.
Over the last eight months, following the passage of the Inflation Reduction Act (IRA) of 2022, over $150 billion in domestic utility-scale clean power investments have been announced, according to the American Clean Power Association (ACP).
This unprecedented level of investment exceeds the total investment in utility-scale clean power projects brought online in the five previous years combined, spanning 2017 to 2021. Over 96 GW of utility-scale projects have been announced over the eight month stretch, said ACP.
Solar is set to play a central role in decarbonizing and onshoring U.S. energy. By 2030, it is estimated the IRA will drive the installation of 950 million solar panels, 120,000 wind turbines, and 2,300 grid-scale battery facilities.
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