Source: E2.
Analysis by Beacon Economics
Highlight
- According to tracking done by E2 the Inflation Reduction Act (IRA) has enabled $86 billion in clean tech investments in the U.S. since passed in August 2022. The amount of investment is not available for all of the projects. The majority of projects are related to manufacturing batteries and expanding solar.
Opportunity
- In California, clean tech companies have benefited from tax credits and other provisions of the IRA This figure includes a $1.5 billion investment made by Bosch, an auto industry supplier, to expand its semiconductor manufacturing capacity in Roseville, California, to meet growing demand from electric vehicle companies. IRA has also helped to stimulate a $100 million investment by Stellantis, for a project called “Hell’s Kitchen,” to manufacture lithium in Imperial County.
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