The Clean Economy Tracker (CET), a collaboration between Utah State University and Atlas Public Policy, shows a large investment in clean energy projects in North Carolina. According to the tracker, North Carolina has received more than $20 billion for clean energy and technology manufacturing facilities. Recent major investors include Siemens Energy AG, Toyota Motor Group, and Atom Power.
The tracker shows that more than 17,000 new clean energy jobs have been created in the Tar Heel State. Investment monies are also flowing in, with more than $2 billion going toward electric vehicles (EVs) and $16 billion in battery technology.
Photo Courtesy Clean Economy Tracker
Toyota Motor Group has invested the most in North Carolina, with almost $14 billion in funding.
According to the CET, the automobile manufacturer announced an investment of $8 billion in its battery manufacturing plant in Liberty, which will open in 2027.
“Toyota’s continued investment in North Carolina is a testament to the state’s leadership as an electric vehicle hub — and why we’re the top state for business,” Machelle Baker Sanders, North Carolina commerce secretary, said in a statement.
Photo Courtesy North Carolina Department of Commerce
According to the Tracker, on Feb. 15, 2024, Siemens Energy AG announced an investment of $150,000,000 toward a transformer factory in Charlotte. The Siemens Energy AG project will bring 559 jobs to the facility when it comes online in 2026.
Photo Courtesy Siemens Energy
“The U.S. energy transition is in full swing, with $2 trillion investment pledged to expand and update the U.S. grid by 2050,” Tim Holt, a member of the managing board for Siemens Energy, said in a Siemens Energy article. “However, renewable projects and grid expansion can only happen with the availability of transformers. The U.S. market today is mostly served by Latin America and Europe, but we see the long-term potential in this market and want to increase our U.S. footprint, building on our long-standing presence in North Carolina.”
Atom Power, an EV charging station software company, also recently broke ground on a new manufacturing facility. Atom Power will invest $4,200,000 in the facility, which is set to open in 2026.
Photo Courtesy Atom Power
“North Carolina leads the nation in the transition to the clean energy economy,” Gov. Roy Cooper said in a press release. “Electric Vehicles are key to this transition, and I’m pleased Atom Power is expanding in Huntersville to make critical parts for EV charging stations, which will be located throughout North Carolina.”
Tools like the CET track the transition’s progress as the United States—and the world—moves closer to net-zero carbon emissions by 2050. The tracker is updated weekly. Atlas Public Policy says that over 75% of new private funding investments in clean energy tracked by the tool came after the passage of the federal bipartisan Infrastructure Investment and Jobs Act in November 2021.
The tracker offers a way to visualize and follow the clean energy funding from private financing throughout the U.S. It is currently tracking $232 billion in announced private investments for clean energy manufacturing across America.
