Electric cars and their supply chains are driving record cleantech investments across the United States, led by California, Texas and Florida, according to a Cipher analysis of a newly released database.
The Clean Investment Monitor, which tracks actual and announced cleantech investments from multiple sources, was unveiled earlier this week by research firm Rhodium Group and MIT’s Center for Energy and Environmental Policy Research.
The database, the brainchild of former White House economic advisor Brian Deese, who is now a MIT fellow, was released roughly a year after the Inflation Reduction Act was passed and injected at least $369 billion into clean energy over the next 10 years.
Beyond EV’s, solar and energy storage are also booming, specifically in Texas, which is leading the nation in overall investment in deploying large-scale solar projects and making solar parts. Georgia saw the most investment specifically in solar manufacturing over the last year.
U.S. businesses and homes have invested some $70 billion in zero-emission vehicles over the past year, almost a 50% increase from the year before, according to a report released alongside the database.
Meanwhile, Tennessee saw the most dollars going towards battery manufacturing during this period. After Michigan, which leads the country in EV production but did not crack the top five states in terms of overall cleantech investments, Tennessee also saw the most investment go towards EV manufacturing. Georgia was also a battery manufacturing leader.