After the passing of the Inflation Reduction Act (IRA) into law, solar PV and storage are expected to create up to 115,000 manufacturing workers in the US by 2030.
A provision under the US Inflation Reduction Act allowing for federal tax credit transfers for solar projects is creating whole new market, giving developers flexibility to sell such credits to third parties to capture maximum value or reduce risk, says a legal and commercial advisor.
In an exclusive interview with PV Tech Premium, US senator for Georgia Jon Ossoff explains steps he is taking towards making the state the advanced energy innovation and manufacturing hub of the US, while warning about dependence on Chinese PV products and the national importance of a vertically integrated domestic manufacturing base.
The US government has announced plans to enable states and non-profit entities to apply for US$27 billion in funding, financing projects that can help combat climate change.
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.
The recent swathe of announcements from US policymakers – coupled with growing geopolitical unrest regarding Chinese manufacturing dominance and the role of solar PV from an energy security standpoint – has the potential to redefine PV technology, manufacturing and component supply chains in a way that the industry has never seen before, writes Finlay Colville, head of research at PV Tech.
Amid potential supply chain bottlenecks as China increases its PV manufacturing dominance, companies in markets such as the US, India and Europe are looking to leverage new policy support to scale up domestic production. Jules Scully charts the industry’s efforts to onshore solar module manufacturing.
The largest solar investment in US history, a pivot to a vertically integrated PV manufacturing facility in the state of Georgia by Qcells, was enabled by a combination of state support, federal government investment and related benefits coming from the Inflation Reduction (IRA), according to the company.
