Energy Facts: Impact of the Investing in America Agenda on Minnesota

Energy Facts: Impact of the Investing in America Agenda on Minnesota  Energy.gov

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Aug 30, 2023 - 05:30
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Energy Facts: Impact of the Investing in America Agenda on Minnesota

U.S. Secretary of Energy Jennifer Granholm visits Minnesota

On August 30, 2023, Secretary Granholm visits Minnesota to tour a solar manufacturing facility and commemorate a new partnership between Heliene and Nexamp, which was made possible by incentives from the President’s Inflation Reduction Act and is expected to create 1,000 new jobs in the region and support the development and construction of approximately 400 community solar projects nationwide.

Strengthening Minnesota’s Economy

Energy Jobs

  • In 2022, there were already 125,194 Minnesota workers employed in the energy sector.
  • In St. Louis County, 33% of the electric power generation workforce was in wind, solar, and hydroelectric, and over 1200 workers were employed in energy efficiency.
  • The Inflation Reduction Act will expand these opportunities, bringing an estimated $8.5 billion of investment in large-scale clean power generation and storage to Minnesota between now and 2030.

Small Businesses

  • Minnesota is home to 534,000 small businesses, representing 99.4% of all businesses and employing 46% of all workers in the state, and the Inflation Reduction Act will help them save money. Commercial building owners can receive a tax credit up to $5 per square foot to support energy efficiency improvements that deliver lower utility bills. Other programs that will benefit small businesses include tax credits covering 30% of the costs of installing low-cost solar power and of purchasing clean trucks and vans for commercial fleets.

Clean Energy Investment

  • Minnesota has an ambitious statewide goal of 100% carbon-free electricity by 2040.
  • Currently, Minnesota has over 6 GW of solar, wind, and storage capacity, making it the tenth largest generator of renewable electricity in the nation.
  • There is 811 MW of additional currently planned clean energy capacity in the works in Minnesota, which will power more than 126,000 additional homes.
  • The Inflation Reduction Act tax credits that encourage investment in wind and solar will help reduce energy costs, as the costs of solar and wind power are projected to drop by 24% and 33%, respectively, over the next 30 years in Minnesota.
  • Since the start of the Biden Administration, the U.S. Department of Energy (DOE) has tracked more than $100 billion in announced battery and EV supply chain investments, including 2 charger manufacturing facilities in Minnesota.
  • In the same period, DOE has tracked more than $5 billion in new solar manufacturing investments, including the new solar panel manufacturing facility in Mountain Iron, MN.
  • Clean power projects provide over $40.3 million in drought-proof land lease payments to farmers, ranchers, and other private landowners each year in Minnesota.

Clean Transportation

  • Minnesota had 33,200 total EVs registered in the state in 2022, a 39% increase over the 23,900 EVs registered by the end of 2021. Drivers switching to an electric pickup truck could

    SDGs, Targets, and Indicators

    SDGs Targets Indicators
    SDG 7: Affordable and Clean Energy 7.2: Increase substantially the share of renewable energy in the global energy mix – Minnesota has over 6 GW of solar, wind, and storage capacity (indicator of renewable energy capacity)
    – There is 811 MW of additional currently planned clean energy capacity in the works in Minnesota (indicator of future renewable energy capacity)
    SDG 8: Decent Work and Economic Growth 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value – The partnership between Heliene and Nexamp is expected to create 1,000 new jobs in the region (indicator of job creation)
    – In 2022, there were already 125,194 Minnesota workers employed in the energy sector (indicator of employment)
    SDG 9: Industry, Innovation, and Infrastructure 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes – The Inflation Reduction Act will bring an estimated $8.5 billion of investment in large-scale clean power generation and storage to Minnesota between now and 2030 (indicator of investment in sustainable infrastructure)
    SDG 11: Sustainable Cities and Communities 11.6: By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management – Clean power projects provide over $40.3 million in drought-proof land lease payments to farmers, ranchers, and other private landowners each year in Minnesota (indicator of sustainable land use)
    SDG 13: Climate Action 13.2: Integrate climate change measures into national policies, strategies, and planning – Minnesota has an ambitious statewide goal of 100% carbon-free electricity by 2040 (indicator of climate change mitigation goal)
    SDG 17: Partnerships for the Goals 17.17: Encourage and promote effective public, public-private, and civil society partnerships, building on the experience and resourcing strategies of partnerships – The partnership between Heliene and Nexamp was made possible by incentives from the President’s Inflation Reduction Act (indicator of public-private partnership)

    Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

    Source: energy.gov

     

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