US PV incentives should be entirely focused on solar cell manufacturing in the short term, with maximum incentive rates given to domestic solar cell production that ultimately has a risk-free supply chain of materials and equipment, writes Finlay Colville, head of research at PV Tech.
In the six months since the Inflation Reduction Act (IRA) passed into law, the US has seen over 100,000 new clean energy jobs created across 31 states as companies begin to capitalise on the incentives and security that the bill offers.
CubicPV, a US solar manufacturer backed by Bill Gates’s Breakthrough Energy Ventures, is looking to leverage support included in the country’s Inflation Reduction Act (IRA) to set up what it claims will be the largest PV wafer manufacturing facility outside of China.
The Inflation Reduction Act (IRA) is set to boost investment into US renewable energy deployment and manufacturing from US$64 billion in 2022 to US$114 billion by 2031, according to research from Wood Mackenzie, though a mismatch between solar deployment demand and domestic manufacturing capacity may see the sector’s domestic profile lag behind.
Following months of discussion and encouragement from the European solar industry, the EU has announced a multi-pronged scheme to drive renewable energy and clean technology development, with the aim of putting the European market at the forefront of the global energy transition.
As 2022 comes to an end, PV Tech is reviewing the year in solar, reflecting on some of the biggest stories and trends of the last 12 months. In today’s review, we look back on the industry’s third quarter, which saw the US sign the Inflation Reduction Act.
Since August 2022 there have been 12 new solar PV manufacturing facilities announced in the US that represent 22GW of module and cell production capacity, according to a report by American Clean Power (ACP).
Solar PV capacity is expected to almost treble over the 2022-2027 period, growing by 1.5TW and will surpass coal as the largest source of power capacity worldwide, according to a report from the IEA.
The Internal Revenue Service (IRS) has issued a wage and apprentice guidance under the Inflation Reduction Act (IRA) that is set to start for US projects initiated in 30 January 2023.
