Businesses announced plans for at least 13 new large-scale clean energy projects and plant expansions in nine states last month, according to national nonpartisan business group E2’s May analysis of new clean energy developments. Based on publicly available information, the 13 projects would create at least 2,900 jobs and over $5 B in new private investment.

Five of the projects were announced by European companies crossing the Atlantic to take advantage of American clean energy incentives and tax credits—bringing jobs and economic opportunity with them. These European companies accounted for nearly $1.5 B in investments alone and two-thirds of the expected job creation from projects announced in May.

Over Memorial Day Weekend, Congress and the Biden administration struck a last-minute deal averting a federal default and cuts to historic clean energy investments passed last year. While the Inflation Reduction Act (IRA) federal clean energy investments emerged from these negotiations unscathed, the outcome was a close call from potentially catastrophic consequences for projects like the 13 announced in May and the close to 200 announced since the IRA passed.

E2 Executive Director, Bob Keefe said, “With every assault on clean energy, we undercut American competitiveness in the global economy and the once-in-a-generation economic opportunities that clean energy projects are already bringing communities across both red and blue states.

“The IRA is creating an economic climate where America is once again an international envy for manufacturing, innovation, and growth. Federal investments and tax credits are empowering clean energy companies to build our resilience, create thousands of jobs, and slingshot the country toward a prosperous and sustainable clean energy future. This is a true American success story, and those looking to bring it down know their attacks are baseless.”

Since the IRA passed last August, E2 has tracked 179 new projects announced in 35 states that will add at least $83 B and create at least 63,000 jobs. A full list of the projects is available at e2.org/clean-energy-announcements/.