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This op-ed was written by SACE’s Electric Transportation Director, Stan Cross. It originally appeared in the Georgia Recorder on July 3, 2024. It is reprinted here with permission.

Gov. Brian Kemp tours a Kia EV6 electric vehicle. Photo courtesy of Ross Williams/Georgia Recorder.

Since the first Ford Model T rolled off the assembly line in 1908, Detroit has been synonymous with the American automotive industry. But in the age of the electric vehicle, amid a renaissance in domestic manufacturing, Georgia is quietly but confidently emerging as the undisputed national leader in the electrifying auto sector.

It sounds like a provocative claim, but the numbers don’t lie. According to the Clean Economy Tracker and new data analysis recently released by Atlas Public Policy and the CHARGE coalition, Georgia currently leads the nation in committed investments and permanent jobs in EV and battery manufacturing, beating out every other state in the country — including Michigan. Since November 2021, when the Bipartisan Infrastructure Law began to inspire further corporate investment in clean energy, a whopping $22 billion and nearly 24,000 new jobs in private sector EV and battery manufacturing have been announced for Georgia.

These investments are already making a real impact in communities across the state. For example, Blue Bird’s factory in Peach County has taken advantage of the Bipartisan Infrastructure Law’s Clean School Bus program, helping companies shift production away from polluting diesel engines towards more efficient electric buses. Blue Bird’s electrified iconic yellow buses are cleaner and safer for the kids who ride them and the neighborhoods in which they operate. Today, its Fort Valley facility employs 2,000 workers in a town of only 9,000 residents — and Blue Bird has already announced plans to ramp up production from two EV buses per day to twenty. Blue Bird is also developing a “Registered Apprentice Program” to train workers in partnership with local colleges, high schools, and trade schools.

Hyundai is another automaker in Georgia that has several EV and battery-related operations. The company just entered into a memorandum of understanding with Savannah Technical College to provide prospective EV industry employees with training for jobs related to shop operations, electrical principles, and the servicing of hybrids and EVs. Similar programs now exist at Columbus and Augusta Technical Colleges, too. These newly trained workers will support growing manufacturing sites. Hyundai’s major $7.6 billion assembly plant in Ellabell is projected to create upwards of 2,000 construction and 8,500 permanent jobs that will eventually build 300,000 EVs annually. Domestic automakers are expanding their operations, too. The American electric SUV and pickup truck maker Rivian plans to build its second production facility in the state, which is anticipated to employ 7,500 workers by 2030.

The infusion of EV and battery industry funding driving this growth is supported directly by the Bipartisan Infrastructure Law and tax credits codified through the 2022 Inflation Reduction Act. FREYR, the Norwegian battery company, chose to build a $2.6 billion facility near Atlanta instead of Norway because of the IRA’s incentives. Out of 130 options across 25 states, the Atlanta metro area was selected due to its strong connections to air, sea, and rail ports and robust engineering workforce trained at schools like Georgia Tech.

During this chaotic election year, it’s no secret that EV policy has become a lightning rod for partisan politics — with Democratic leaders often claiming to be pro-EV and Republicans against. However, Gov. Brian Kemp recently visited the Kia plant in West Point to celebrate the hundreds of new jobs accompanying the production of the EV9, an EV that won North American Utility Vehicle of the Year. Interestingly, 97% of the nearly 24,000 EV and battery manufacturing jobs announced for the state since the passage of the Bipartisan Infrastructure Law are in Congressional districts represented by Republican legislators.

These EV facilities aren’t just creating much-needed jobs and tax revenues for the state — they’re cementing Georgia’s place as a major technology hub in the growing clean energy economy. As the governor said during his visit to West Point’s Kia factory, after driving the first Georgia-built EV off the production line, “We are working to become the e-mobility capital of the nation.”

The post Move over, Michigan: Georgia now leads in building next-generation cars appeared first on SACE | Southern Alliance for Clean Energy.

Move over, Michigan: Georgia now leads in building next-generation cars

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Respect for One’s Executioner

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This from Sartre.

Great parallel to modern-day Trump supporters, who love their leader while they pay $5 for a gallon of gasoline.

Respect for One’s Executioner

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New ACORE Resource Breaks Down the Complexities of Energy Tax Equity Structures  

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New ACORE Resource Breaks Down the Complexities of Energy Tax Equity Structures  

WASHINGTON, D.C. – A new report from ACORE presents survey data from leading investors about the performance of tax equity structures and how they continue to play a significant role in financing clean energy projects.  

For more than two decades, tax equity has provided a stable private financing mechanism and an important source of capital for new clean energy projects in the United States. The U.S. clean energy industry now attracts over $45 billion in tax credit investments annually, of which more than $20 billion is provided by banks through tax equity arrangements. The report provides an expert look into how tax equity financing transactions are structured and the risks and returns associated with these deals.

Key takeaways from the report include:

  • Overwhelmingly Positive Returns: An ACORE survey representing over 75% of the tax equity market showed that these investors typically receive a median 8.4% return on current investments.
  • Minimal Downside Risk: Risks associated with recapture, foreclosure, and bankruptcy have been exceptionally low for tax equity investors.  
  • Demand for Tax Equity Exceeds Supply: Tax equity is responsible for between one third and two thirds of a clean energy project’s overall financing, and about 45% of tax equity is provided by banks through tax equity arrangements. Demand for tax equity will accelerate as investors look to finance energy storage and other eligible technologies that continue to qualify for tax credits.

“This report reflects ACORE’s commitment to delivering solid, impartial insights from the entire span of the clean energy industry,” said Ray Long, President and CEO of ACORE. “Getting clean energy tax policy right is the key to ensuring the United States is ready to deliver the power needed for tomorrow’s economy.”

The Risk Profile of Tax Equity Investments: 2026 Edition, is available in full on the ACORE website.  

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About ACORE
ACORE is a nonpartisan nonprofit organization that operates at the intersection of affordability, reliability, and clean energy deployment. Our work is focused on stabilizing energy prices, strengthening the electric grid, and driving investment in cost-effective technologies to ensure that clean energy delivers for people, businesses, and the U.S. economy.

ACORE’s membership includes clean energy investors, developers, energy buyers, power generators, manufacturers, and energy providers. In 2024, nearly 80% of the booming utility-scale domestic clean energy growth was financed, developed, owned, equipped, or contracted by ACORE members. For more information, visit www.acore.org.  

Media Contacts:

Chris Higginbotham
higginbotham@acore.org

The post New ACORE Resource Breaks Down the Complexities of Energy Tax Equity Structures   appeared first on ACORE.

https://acore.org/news/new-acore-resource-breaks-down-the-complexities-of-energy-tax-equity-structures/

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An Economy that Works for Everyone

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Right-wingers, like the fellow shown here, tend to make broad and unfair generalizations about the left.

Progressives would like to see an economy that works for everyone, not just the uber-rich.  We want wealth creation for the people who need it most.

The best way to make this happen is strong, high-quality public education and universal healthcare.

These are not radical concepts; this is the way the vast majority of the developed world operates.

An Economy that Works for Everyone

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