Nevada Ranks #1 in U.S. Clean Investment, Percent of Gross State Product

A joint report by Massachusetts Institute of Technology (MIT)’s Center for Energy and Environmental Policy Research and the Rhodium Group ranks Nevada as the #1 state in the U.S. for total clean investment as percent of gross state product. About 2.1% of Nevada’s gross state product from Q4 2022 to Q3 2023 was in clean investment. 

The ranking for total clean investment is based on the combination of each state’s clean manufacturing, clean energy & industry production, and clean retail purchases.

Nevada ranks #7 in clean manufacturing, #4 in clean energy & industry production, and #5 in clean retail. 

The nonpartisan, independent report, Clean Investment Monitor, tracks public and private investments in manufacturing and deployment of climate technologies in the U.S. 

Clean manufacturing includes fueling equipment, electric vehicle supply chain solar manufacturing, electrolyzer and wind manufacturing. Energy & industry production includes utility-scale solar and storage, wind, hydrogen, carbon management, etc. Retail includes zero-emission vehicles, distributed renewable electricity and storage, and heat pumps. 

According to the report, “Actual clean energy and transportation investment in the US reached a record $64 billion in Q3 2023 - an 8% increase from the previous quarter and a 42% increase relative to the same period last year.”

The top five states in clean investment as a share of gross state output were Nevada, South Carolina, Arizona, Tennessee, and Montana. 

Last month, U.S. Senators Catherine Cortez Masto (D-NV) and Jacky Rosen (D-NV) announced the University of Nevada, Las Vegas (UNLV) will receive $1,149,037 for university programs that are funding innovative clean-energy and technology startups.

UNLV will receive $749,037 to fund their Accelerate Electric Nevada Renewable Energy Cluster Development project and an additional $400,000 for their Scarlet Venture Fund.

“Nevada is leading the way in clean energy, bringing in thousands of good-paying jobs and supporting working families throughout my state,” said Senator Cortez Masto. “From boosting our critical mineral supply chain to investing in innovative technologies, I’ll continue working to keep Nevada at the forefront of our clean energy future.”