WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 151
IRA impact
and progress
Manufacturing represents 18% of total clean investments at
$89 billion, a 305% increase from pre-IRA at $22 billion.
ENERGY IN
THE REGIONS
HOME
The IRA has catalyzed significant investments across
manufacturing, clean energy, and transportation, doubling
total USA private investments to 4.5% compared to 2.5%
pre-IRA.
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ARTICLE
FIGURE 2
Actual investment in clean manufacturing and energy & industry compared to oil & gas production
Annualized basis, real 2023 $
Clean manufacturing and energy &
industrial production
$200
Energy represents 43% increase, totaling $161 billion.
$180
Overall, investments in manufacturing and energy combined,
exceeded investments in oil and gas production with a 64% gap.
$160
$140
Clean Power Generation Sees Doubling in Private
Investments
• There Department of Energy (DOE) has enabled more privatesector investment towards clean energy noting the need for
public-private sector partnerships, estimating $300 billion
in private capital is needed annually, alongside government
funding.
$120
Oil & gas production
$100
$80
$60
$40
$20
$0
Q1
Q2
Q3
2018
Q4
Q1
Q2
Q3
2019
Q4
Q1
Q2
Q3
Q4
2020
Source: Rhodium Group/ MIT-CEEPR Clean Investment Monitor
Q1
Q2
Q3
2021
Q4
Q1
Q2
Q3
2022
Q4
Q1
Q2
Q3
2023
Q4
Q1
Q2
2024
WEMO 2024
• In July 2024, the DOE saw market momentum with privatesector investments matching at a rate of 2 to 2.5 times. $50
billion from the government is translating to $100 to $150
in private-sector commitment.
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