Clean Energy Investments
In the past 12 months, clean energy investments have surged, with over $270 billion in capital investments announced for projects and new manufacturing facilities to meet growing demand driven by the Inflation Reduction Act. The investment announced during this time period is equivalent to the last eight years’ worth of clean energy investment in the United States. As a result, clean energy technologies have become better, less costly, and easier to obtain.
A portion of investments have been directed towards building and improving manufacturing facilities to support the demand for solar. The American Clean Power Association anticipates a ninefold increase in solar module production and more than a fifteenfold increase in grid-scale battery storage. Specifically, many southern states are working hard to attract battery and solar manufacturers to their communities as a response to these large investments. Companies like SK Energy, Hanwha Qcells, LG Energy, and SolarEdge have already announced new locations in the southeast. Colite Technologies is also getting a helpful neighbor here in Columbia, South Carolina, Enphase and Flex Energy have formed a manufacturing partnership where they will produce microinverters for solar use in West Columbia.
New Manufacturing Facility Announcements
Yellow: Solar Green: Battery Blue: Wind
Solar Energy Investments
In the last year, 52 new or expanded solar manufacturing facilities will support more than 76 GW of new manufacturing capacity. For reference, 1 GW could power approximately 876,000 households for one year. Solar alone has received over $9 billion in clean energy investments and is one of the fastest growing forms of clean energy. The price of solar has dropped over 50% in the last decade, and when combined with tax credits, grants, and other incentive programs, solar is often the first choice for many business owners.
Number of New Manufacturing Facility Announcements
Yellow: Solar Green: Battery Blue: Wind
Battery Investments
Battery-related manufacturing is growing so quickly in the southeast that it has been deemed the “Battery Belt” with attracting almost $10 billion in new clean energy investments. From new battery production to old battery recycling, the Southeast has established a stronghold on battery manufacturing facilities—driven largely by abundant natural resources and a thriving vehicle industry. Despite the South’s historical ambivalence toward clean energy, the close relationship between car and battery manufacturers has made the region indispensable to advancing clean energy transportation.
EV Investments
What Colite Technologies Offers
Reach your sustainability goals with renewable energy, including rooftop solar solutions from Colite Technologies. We specialize in sustainable energy solutions for businesses, from solar to customizable off-grid lighting powered by renewable energy, helping companies maximize the impact of their clean energy investments.
As a full EPC, we provide turnkey non-penetrative commercial solar installations on flat and low slope roofs, ground mount installations, pre-and-post installation roof inspections, system engineering and design, and handle all the permitting and interconnection paperwork. We also have EV charging and battery storage capabilities available as a supporting product for solar installations.
Our customizable renewable lighting solutions are powered by solar and wind energy and are completely off-grid, eliminating any need for electrical grid connection. They can feature custom branded banners, Wi-Fi, security cameras, and bench seating to maximize function for business parks and multifamily developments.