September 6, 2023 How North Carolina is Leading the Clean Energy Boom

North Carolina boasts a multitude of clean energy frontrunners that are set to redefine the industry as we know it.

Global investment into clean energy is on course to rise to $1.7 trillion this year – a 24% increase since 2023, driven by innovation in renewable energy and electric vehicles. In North Carolina, automotive companies like Toyota are selecting the state to be part of the future of its electric vehicle battery manufacturing, while homegrown innovators like Wolfspeed, a producer of the coveted silicon carbide chips needed for EVs, are expanding operations. From its world-class educational systems to its nation-leading workforce, the Tar Heel state has the key criteria and a multitude of clean energy frontrunners set to redefine the industry as we know it.

Powering the Electric Vehicle Industry

In an era marked by the imperative of sustainable transportation, North Carolina stands tall with its automotive industry partners at the forefront of the electric vehicle (EV) revolution. In 2021, Toyota selected North Carolina for its first North American EV battery facility, a $3.8 billion project that will create 2,100 jobs. In 2022, VinFast Automotive chose North Carolina for its first North American automotive assembly and battery manufacturing plant. The company plans to invest $4 billion and create 7,500 jobs in Chatham County, making this the largest economic development project in North Carolina’s history in terms of job creation. This strategic decision not only propels the state into the heart of the EV movement but also underscores its commitment to a greener future.

North Carolina-born and bred, Wolfspeed is an innovative company that produces silicon carbide chips – most often used for electric vehicles, 5G networks, offshore wind and other applications. It is one of the largest producers of these chips in the world, owning 60% of the total market share. Last September, Wolfspeed announced plans to build a factory in Chatham County, North Carolina to produce 200-millimeter silicon carbide wafers. Its founders were the first to successfully commercialize silicon carbide, making North Carolina the home-base of designing and supplying the industry’s highest-performing silicon carbide materials and devices for high-power applications.

Looking to the Future of Aviation

Aside from the electric vehicle industry, the state boasts a wide range of clean energy developments, powering air, land and sea. In 2022, Boom Supersonic announced a $500 million investment in North Carolina, which will produce a historic commercial airliner, Overture, which will be capable of flying on 100% sustainable aviation fuels at twice the speed of today’s fastest passenger jets. Boom Supersonic’s XB-1 prototype has recently been cleared for test flight and CEO Blake Scholl says it could take off by the end of 2023. The reintroduction of supersonic flight is dependent on Boom Supersonic’s North Carolina Superfactory, which is simultaneously expected to create more than 1,750 new jobs by 2030 and pull from the state’s plentiful and skilled workforce. North Carolina economists estimate that the Overture Superfactory will grow the state’s economy by at least $32.3 billion over 20 years. And to develop the next generation of supersonic professionals, Boom will also create 200 internships through 2032 for students who attend publicly funded North Carolina universities, community colleges or technical schools.

Top Workforce in the Nation

To support this continued development of the clean energy industry, North Carolina has invested in its STEM programs immensely. The state offers 28 aviation and aerospace degree programs through its colleges, universities, and community colleges, with North Carolina State University having conferred more than 450 aerospace engineering degrees over the past five years. Overall, the state graduates over 29,000 STEM degrees and produces over 47,000 engineers each year. Those engineering graduates include those from North Carolina A&T, the largest historically Black college and university in the country and the highest producer of Black engineering graduates each year.

As the global energy landscape undergoes a profound transformation, North Carolina’s rise as a clean energy powerhouse is undeniable. The convergence of industry leaders, local innovators, and an unwavering commitment to sustainability has set the stage for a new era of energy dominance. From automotive manufacturing to cutting-edge aviation technologies, North Carolina’s influence spans sectors, driving the clean energy revolution forward. With a burgeoning clean energy ecosystem, the state is poised to redefine industries, shape policies, and inspire the world to embrace a greener, more sustainable future.

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