In recent years, the pursuit of cleaner and more sustainable energy solutions has gained immense traction, leading to significant investments in various projects across the United States. A recent report by the national advocacy group E2 (Environmental Entrepreneurs) sheds light on Arizona’s remarkable progress in the clean energy sector. Arizona is Top 9 among states with the highest number of clean energy projects and is Top 7 in terms of total estimated investment.
“Arizona” is Top 9 among States with the Highest Number of Clean Energy Projects, Top 7 for Total Estimated Investment, and Top 7 for Highest Number of Jobs Created
In the wake of the federal Inflation Reduction Act (IRA) signed into law in August 2022, Arizona has emerged as a frontrunner in clean energy endeavors. The Clean Economy Works: IRA One-Year Review report by E2 highlights 8 significant clean energy projects announced in Arizona, collectively amounting to an estimated $5.9 billion in investment and the creation of 2,280 new jobs. The report’s analysis focuses on publicly available data from companies announcing major projects across the nation, encompassing renewable energy facilities, electric vehicle production sites, battery plants, and related initiatives. This collective effort has led to the announcement of 210 projects across 39 states, contributing to an estimated 74,181 jobs and an impressive $86.32 billion in investments. This places Arizona at the 9th position among states with the highest number of clean energy projects and ranks it 7th in terms of total estimated investment. In fact, Solar power was just one of the areas of clean-energy industries that brought thousands of new jobs to Arizona in the past year, which also placed it 7th-highest for number of jobs created.
LG Energy’s Queen Creek Project: Top 1 Arizona Clean Energy Project
Amidst this surge in clean energy projects, LG Energy Solution’s endeavor in Queen Creek stands out prominently. The report designates two separate yet interconnected projects by LG Energy Solution in Queen Creek. The first, a colossal $2.3 billion expenditure, is allocated to the establishment of an energy storage manufacturing plant. This groundbreaking investment is set to revolutionize energy storage capabilities, positioning Arizona as a pioneer in this critical field.
Additionally, the report identifies a distinct project involving an investment of $1.8 billion for electric vehicle batteries at the same Queen Creek location. As electric vehicles gain traction in the market, this investment not only highlights Arizona’s commitment to clean transportation but also solidifies the state’s position as a hub for cutting-edge technological advancements.
Arizona’s Electric Vehicle and Battery Industry Constitute Over Half of Total New Projects in Multiple States
The report underlines the pivotal role of electric vehicle production in Arizona’s clean energy expansion. With 115 electric vehicle or battery-related projects across multiple states, Arizona’s contribution is significant, constituting over half of the total new projects identified in the analysis. The state’s robust electric vehicle and battery industries have become vital drivers of economic growth, generating opportunities and spurring innovation.
Arizona’s Diverse Portfolio of Clean Energy Projects
While electric vehicles and batteries dominate Arizona’s clean energy landscape, the state’s commitment to a diverse clean energy portfolio is evident. The report acknowledges 44 solar projects and 18 wind energy projects, underscoring Arizona’s multifaceted approach to sustainable energy solutions.
Arizona’s ascent among the top states for clean economy projects and investments is a testament to its unwavering commitment to a sustainable future. With LG Energy Solution’s remarkable projects in Queen Creek at the forefront, the state’s clean energy sector has reached new heights. As clean energy jobs and investments continue to grow, Arizona is poised to make history in the clean energy sector, driving innovation, economic prosperity, and environmental stewardship for years to come.
Sources: Phoenix Business Journal
