2024 added some milestones for renewables investing in the United States. American Clean Power’s (ACP) December 2024 Clean Power Quarterly Market Report found that the country set a record for the strongest third quarter for clean energy.
According to the Clean Economy Tracker, there were $35 billion worth of investments throughout the U.S., with 18 projects announced in October of last year alone. The money for the projects spanned six sectors: batteries ($14.7 billion in total), minerals ($5.7 billion in total), transmission and grid ($1.5 billion in total), solar energy ($3.2 billion in total), electric vehicle (EV) assembly ($8.5 billion in total), and wind energy ($955 million in total).
The October investments totaled $2.9 billion, and 2,700 jobs were announced across 10 states, including California, Georgia, Kentucky, Michigan, Minnesota, Nevada, Pennsylvania, South Carolina, Texas, and West Virginia.
Photo Courtesy Markus Spiske
South Carolina led with the highest total of investments, at $3.9 billion, followed by Illinois and Michigan. However, the largest individual amount was $1 billion from Lyten for mineral production and a battery plant in Nevada. North Carolina had the most announced jobs, totaling nearly 3,400, with South Carolina and Michigan following.
In the West
Sepion Technologies announced plans to build a cutting-edge lithium-ion battery separator manufacturing facility in California — backed by a $17.5 million CALSTART grant. The factory will be located in the Capitol Innovation District, a 1 million-square-foot advanced biomanufacturing innovation area in the heart of West Sacramento, the Golden State’s capital. The firm says the plant “will address key supply chain gaps and bolster the domestic battery workforce.”
Photo Courtesy Businesswire
Additionally, Lyten, the supermaterial applications company and global leader in Lithium-Sulfur batteries, plans to invest more than $1 billion to build the world’s first Lithium-Sulfur battery gigafactory in the Silver State. Located near Reno, Nevada, the facility will be able to produce up to 10 gigawatt-hours (GWh) of batteries yearly at full scale.
In the Midwest
The U.S. Department of Energy’s (DOE) Office of Manufacturing and Energy Supply Chains announced it would award TS Conductor Corp. $28.2 million in grants to assist in producing High Voltage Direct Current (HVDC) and other advanced conductors. A DOE press release says the new factory will create 425 construction and 162 operating jobs with “wages above the local prevailing rate.”
In Minnesota, Heliene Inc., a solar photovoltaic module manufacturer, announced a strategic equity investment of up to $54 million from Transition Equity Partners to support the development of a new 550-megawatt production line in Rogers. The venture will create more than 150 full-time employees.
Graphic Courtesy U.S. Department of Energy
“We are proud to play a pivotal role in strengthening North America’s renewable energy supply chain and contributing to the global energy transition,” Martin Pochtaruk, CEO of Heliene, said in a statement.
In the South
The DOE’s Office of Manufacturing and Energy Supply Chains appears again in our investment roundup — this time in Kentucky. The office announced the selection of Anthro Energy for a $24.9 million grant to establish the first large-scale, U.S.-owned and operated advanced electrolyte production facility. This grant is part of the DOE’s Bipartisan Infrastructure Law (BIL), which provides historic investments to modernize American infrastructure, foster clean energy innovation, and create high-paying union jobs.
Anthro Energy will use this grant to transform an existing manufacturing site into a state-of-the-art 25 GWh production facility in Louisville, Kentucky. It will be dedicated to producing 12,000 metric tons of advanced electrolytes annually.
The DOE also awarded Sparkz Inc. a $9.8 million grant to construct a first-of-its-kind battery-grade iron phosphate (FePO4) plant in the U.S., creating and retaining 75 high-quality jobs. The company also signed a neutrality agreement with the United Mine Workers of America (UMWA) Labor Union and will work with UMWA to provide training to coal workers.
Photo Courtesy Sparkz Inc.
“This project will ensure that the men and women who have powered our nation for decades can continue to play a critical role in their state’s economy,” Sanjiv Malhotra, founder and CEO of SPARKZ Inc., said in a press release.
In Texas, Moment Energy will use the funding to construct a state-of-the-art gigafactory in Taylor, to produce safe, reliable, and affordable battery energy storage systems from repurposed EV batteries.
Over in the Peach State, Gov. Brian P. Kemp announced that TMC Transformers USA Inc., an international dry-type transformer manufacturer, will expand its footprint in Georgia. Over the next five years, the company will invest more than $15.3 million in a new manufacturing facility in Waynesboro, creating at least 110 new jobs in Burke County.
Birla Carbon, one of the largest manufacturers and suppliers of high-quality carbon additives globally, announced it selected Orangeburg County to establish its first South Carolina operation. The $1 billion investment is set to create 124 new jobs.
In the East
Mitsubishi Electric Power Products, Inc. (MEPPI) will construct an approximately 160,000-square-foot Advanced Switchgear Factory in Western Pennsylvania. This venture is Mitsubishi’s first new manufacturing facility in over a decade and is anticipated to employ more than 200 full-time workers.
Photo Courtesy MEPPI
“Pennsylvania is open for business, and we are working every single day to make our Commonwealth the best state in the nation for business growth and economic opportunity,” Pennsylvania Gov. Josh Shapiro said in a statement. “Right here in the Pittsburgh region, we’re making targeted investments to attract more projects like MEPPI’s, boost our economy, and create good-paying jobs for Pennsylvanians.”
