Report: Inflation Act Leads to Over 100K New Jobs

TL/DR –

The federal Inflation Reduction Act has aided in the creation of over 100,000 jobs in the renewable energy sector, as per a new jobs report. The nonprofit e2 has tracked the progress and identified 305 renewable energy projects across 41 states since the legislation’s passage. Many of these projects focus on electric vehicles, battery storage, solar, and manufacturing, and 37 are concentrated on energy generation.

Renewable Energy Sector Boosted by Federal Inflation Reduction Act

The latest jobs report reveals that the federal Inflation Reduction Act has spawned over 100,000 jobs in the renewable energy sector. Non-profit group e2 has been monitoring the developments in renewable energy projects since the Act’s implementation.

Massive Growth in Renewable Energy Projects

As per e2’s findings, 305 projects have been launched in 41 states post the enactment of the Inflation Reduction Act. Notably, around six ventures in New Mexico are projected to create over 2,500 new jobs. This includes the expansion of Array Technologies in Albuquerque, a manufacturer of tracking systems for solar arrays.

Nationwide Impact of Inflation Reduction Act

US Department of Energy Secretary, Jennifer Granholm, visited Albuquerque in April, ensuing the groundbreaking of Array Technologies’ expansion. She also attended the inauguration of Arcosa Wind Towers in Belen, another beneficiary of the Act.

Breakdown of Projects Under the Act

Around 100 national projects are centered on electric vehicles, with nearly 70 each focusing on battery storage and solar. Over 250 projects relate to the manufacturing sector, while 37 are dedicated to energy generation. The Inflation Reduction Act continues to foster growth in the renewable energy sector.

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