First Solar announces fifth U.S. factory as Inflation Reduction Act fuels domestic manufacturing

First Solar, the nation’s largest photo voltaic panel producer, introduced Thursday that it’s going to construct its fifth U.S. manufacturing facility because the Inflation Reduction Act spurs a home manufacturing growth.

The firm stated it can make investments as a lot as $1.1 billion within the new manufacturing facility, the situation of which has but to be determined.

The new web site will enhance 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 fulfill surging demand, and in April, the corporate stated it was offered out by 2026.

The Inflation Reduction Act has already spurred a flurry of unpolluted vitality manufacturing facility bulletins and greater than $150 billion in capital investments because it handed practically one 12 months in the past, in keeping with estimates from American Clean Power.

President Biden stated Thursday that First Solar’s announcement, alongside different inexperienced vitality pushes, reveals that “the era of America ceding leadership to our adversaries in clean energy is over.”