Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Business Clean Energy

(Photo by Oli SCARFF / AFP) (Photo by OLI SCARFF/AFP via Getty Images)

By Savannah Young Leaders Staff

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Sep 7, 2022

Businesses Act on Energy Bill Spending

Since the introduction of the new climate bill, many clean-energy projects have been announced.

Key details

Recently, President Joe Biden signed a climate and healthcare law called the Inflation Reduction Act. The new bill includes a $369-billion investment in climate and energy policies.

Since the bill was signed into law, many businesses have announced major clean-energy projects that will benefit from the legislation.

Toyota announced a $3.8 billion investment in the U.S. The company plans to build a factory in North Carolina to produce batteries for electric cars and hybrids. 

Piedmont Lithium, a mining company, said it would build a plant in Tennessee to process lithium for batteries, helping to ease America’s dependence on Chinese refineries—a key aim of the Biden administration, according to The New York Times.

Another company planning to bring business to the U.S. is First Solar. First Solar is an American manufacturer of solar panels and is planning to invest $1.2 billion in U.S. solar-panel manufacturing.

Although these projects were announced, it will still be some time before we see the outcome. It takes a lot of time to plan, build, and staff these big factories. For example, Toyota doesn’t expect for the factory to be making cars until 2025.

Why it’s important
Companies had begun investing in new technologies that will accelerate the growth of clean energy. Electric vehicles, solar power, battery production, and more have all be in the works, and this bill might provide the extra investment needed to push them forward faster.

The goal of the bill is to cut greenhouse gas emissions by investing billions in climate and energy. The investment aims to boost renewable energy infrastructure in manufacturing, like solar panels and wind turbines, and include tax credits for electric vehicles and measures to make homes more energy efficient. 

The new law will sanction as much as $300 billion in federal loan guarantees for businesses energy and automotive projects. The money could significantly benefit future projects that need money to get off the ground and help already established businesses meet goals and bring more manufacturing to the U.S.

A possible consequence of the infusion of money into the economy by the U.S. government is that it will only exacerbate and not mitigate inflation, despite the name of the bill. 

Home / News / Businesses Act on Energy Bill Spending
Share
FacebookTweetEmailLinkedIn

Related Stories

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
Markets

Oct 23, 2023

Chevron Gas Deal

Chevron is acquiring Hess Corp. for $53 billion, the second significant oil producer acquisition this month as crude prices climb.

Key Details

  • Chevron is purchasing Hess in an all-cash deal worth $53 billion, including debt and preferred stock redemption.
  • This comes just weeks after ExxonMobil announced its $59.5 billion purchase of Pioneer Natural Resources.
  • With oil over $80 per barrel, major producers are using their windfall profits to acquire smaller players and boost payouts to shareholders.
  • Chevron expects the deal to close in H1 2023 pending regulatory approvals and Hess shareholder vote.
  • Hess CEO John Hess will join Chevron's board once the acquisition is complete.

Go deeper

FacebookTweetEmailLinkedIn
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff
netflix building
Entertainment

Oct 19, 2023

Netflix Hiking Prices While Adding Millions of Subscribers

by Colin Baker Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com