A employee at First Solar in Perrysburg, Ohio July 8, 2022.
Megan Jelinger | Reuters
First Solar, the nation’s largest photo voltaic panel producer, introduced Thursday that it’ll construct its fifth U.S. manufacturing facility because the Inflation Reduction Act spurs a home manufacturing growth.
The firm stated it is going to make investments as a lot as $1.1 billion within the new manufacturing facility, the situation of which has but to be determined.
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The new web site will improve First Solar’s nameplate manufacturing capability by 3.5 gigawatts, reaching 14 GW within the U.S. by 2026, the 12 months it is slated to come back on-line.
Including Thursday’s announcement, First Solar has invested $2.8 billion over the previous 12 months to ramp up manufacturing, together with a brand new web site in Alabama and expansions to present Ohio amenities. Still, First Solar has been unable to satisfy surging demand, and in April, the corporate stated it was bought out by way of 2026.
The Inflation Reduction Act has already spurred a flurry of unpolluted power manufacturing facility bulletins and greater than $150 billion in capital investments because it handed practically one 12 months in the past, in response to estimates from American Clean Power.
President Biden stated Thursday that First Solar’s announcement, alongside different inexperienced power pushes, reveals that “the era of America ceding leadership to our adversaries in clean energy is over.”
Source: www.cnbc.com”