Clean energy investments bring jobs, economic growth to NC

The Department of Energy revealed details about 35 clean energy projects totaling $1.93 billion in funding across 20 states, including North Carolina.

Siemens will receive more than $18 million in tax credits to expand its transformer manufacturing facility in Charlotte, adding nearly 500 new jobs.

“We look globally to decide where to make these factories and where to make our products, and without these incentives that could very much go to other locations,” said Rich Voorberg, president of Siemens North America.

Incentives luring business from Siemens and others are boosting the domestic supply chain, as 90% the power we consume passes through transformers and 80% are currently imported.

“Many of the components necessary for the clean energy transition have been produced in China largely,” Granholm “They have had a strategic industrial policy to corner the market on this. And we are saying no more. We’re going to do it here.”

These projects are part of President Joe Biden’s Investing in America agenda and are funded through the Qualifying Advanced Energy Project Credit (48C), aimed at reducing greenhouse gas emissions and accelerating clean energy manufacturing.

“These investments are happening all across the country and that is going to help us transition faster and to make sure that these jobs aren’t shipped overseas,” said North Carolina Gov. Roy Cooper.

North Carolina has seen more than 67,000 clean energy jobs and more than $42 billion in capital since 2020, according to the NC Department of Commerce. More than 400 factories have announced plans to expand over that time period.

“Not only is it the right thing to do to fight climate change, but it’s putting money in the pockets of families,” Cooper said.

Granholm toured Wake Tech’s Hendrick Automotive Center of Excellence where students are learning to repair electtric vehicles and install chargers. Workplace training programs are expanding to meet the growing demand for workers in the clean energy sector.

The Department of Energy says a percentage of federal funds will go towards what they call “energy communities” to spur growth in areas where coal plants and coal mines are closing.