NEW YORK TIMES: CLEAN ENERGY PROJECTS SURGE AFTER CLIMATE BILL PASSAGE
Companies Are Investing Big In American Clean Energy & Manufacturing Thanks to the Inflation Reduction Act
In Case You Missed It — New clean energy and manufacturing projects are booming in the United States thanks to the Inflation Reduction Act, according to the New York Times.
President Biden and congressional Democrats’ bill that contains $369 billion for climate and energy incentives is reshaping the clean energy landscape, with companies announcing major projects across the country.
In the weeks since President Biden signed a comprehensive climate bill devised to spur investment in electric cars and clean energy, corporations have announced a series of big-ticket projects to produce the kind of technology the legislation aims to promote.
Toyota said it would invest an additional $2.5 billion in a factory in North Carolina to produce batteries for electric cars and hybrids. Honda and LG Energy Solution announced a joint venture to build a $4.4 billion battery factory at a location to be named.
Piedmont Lithium, a mining company, said it would build a plant in Tennessee to process lithium for batteries, helping to ease America’s dependence on Chinese refineries — a key aim of the Biden administration. First Solar, a big solar panel manufacturer, said it would invest up to $1.2 billion to build its fourth factory in the United States, probably somewhere in the Southeast, largely because of renewable energy incentives in the climate bill.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.