Since the IRA was enacted in August 2022 through December 31, 2024, a study by Climate Power reports that the funding has spurred 751 new private sector projects driving $422 billion in new investments and creating 406,000 new jobs. “Plans include 244 new battery manufacturing sites, 165 new or expanded electric vehicle manufacturing facilities, and 213 solar and wind manufacturing plants.” across 48 states and Puerto Rico.
Rural communities have announced 131 new projects that bring $55.2 billion dollars and more than 62,000 jobs to rural America.across 33 states.
In Wisconsin, EV manufacturing and battery storage industries have had a surge of investments. New clean energy projects have brought $5.44 million in investments to WI and helped grow 2,512 good-paying clean energy jobs.
Some examples include a $2.5 billion conditional loan commitment to WEPCO from the US Department of Energy to finance more than 1,650 megawatts of utility-scale reneable energy and storage across a number of projects without raising electricity costs. ABB in New Berlin announced a $100 million invetment to build electric drive units for EVs creating 100 new jobs. Ingeteam in Milwaukee announced in 2023 it would add 100 new jobs to its EV charger manufacturing facility. Also, in 2023, SIemens in Kenosha announced it would open a solar component manufacturing facility creating a dozen jobs.