WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 153
IRA impact
and progress
81% of total investment have gone to counties with belowaverage wages, with clean energy jobs paying 21% higher
wages.
18% of total investment post-IRA towards Emerging Climate
Technologies (ECT)
Strong demand for clean technology also means challenges
across multi-jurisdictional state/local entities due to
enablement of infrastructure, developing supply chains, and
scarcity of resources.
To be noted after this investment acceleration, Nov. 5th
presidential elections and related uncertainty are slowing
down IRA investment, which have peaked in Q4 2023.
ENERGY IN
THE REGIONS
HOME
Clean technology investment growth leads to 334,000 clean
energy jobs within two years.
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ARTICLE
include technologies designed to capture, transport, and store
carbon emissions to reduce emissions, especially for hard-toabate industries like the power sector.
FIGURE 5
Energy & industry investment by technology
Billion $ 2023
$30
$25
Other
Carbon
managemnet
$20
Hydrogen
$15
SAF
Emerging Climate Technologies
$10
Storage
Solar
• Sustainable Aviation Fuels (SAF) 1655%, $14 billion post-IRA.
• Carbon Management 6x, $7 billion
$5
Wind
• Hydrogen 14x, $8 billion
Nuclear
$0
Carbon capture technologies will play a critical role across
industries to achieve emission reduction commitments. As
technology continues to improve, the IRA has expanded tax
credits for the development of carbon capture projects which
Q1
Q2
Q3
2020
Q4
Q1
Q2
Q3
Q4
Q1
2021
Source: Rhodium Group/ MIT-CEEPR Clean Investment Monitor
Q2
Q3
2022
Q4
Q1
Q2
Q3
2023
Q4
Q1
Q2
2024
WEMO 2024
Significant Growth in Investment
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