WASHINGTON, DC – Today, the Biden Administration released further guidance on a key clean energy tax credit in the CHIPS and Science Act (CHIPS) that will now bring more resources to clean energy manufacturers working to build the full solar supply chain in the United States. Under section 48D of the CHIPS Act, solar and semiconductor producers can now claim the 25% Investment Tax Credit on facilities dedicated to manufacturing ingots and wafers – critical solar panel components. These benefits will be retroactive and can be claimed through 2026.
In January 2023, Qcells announced a historic $2.5 billion investment in building the solar supply chain in the United States. Currently, Qcells is the only solar company with a factory under construction that will manufacture 3.3 GW of ingots, wafers, cells, and solar panels. When its new facility is up and running, Qcells will manufacture a total of 8.4 gigawatts of solar panels – or 16 million solar panels – a year between its Dalton and Cartersville sites.
Danny O’Brien, president of corporate affairs at Qcells, issues the following statement:
“The White House is wisely addressing the fact that the overwhelming majority of solar panels manufactured in the world are done so by companies in China. This virtual monopoly of the clean energy supply chain means the U.S. risks missing out on a huge economic opportunity as well as endangering its energy security as the country increasingly relies on solar energy. With the support of the Biden Administration’s Inflation Reduction Act, Qcells is working to bring back solar manufacturing to the U.S. and applauds this bold decision.
The White House is to be commended for this announcement as it will support domestic manufacturing, create jobs and build the next generation of clean energy in America. Innovation and manufacturing are at the heart of Qcells’ efforts to build its one-of-a-kind solar supply chain and now with this announcement, the key components of our solar panels will be made in America for the first time in decades.”
