First Solar blazoned plans Tuesday to invest up to $1.2 billion for spanning up its U.S. solar panel product.
Up to $ 1 billion will go toward erecting a new solar panel plant nearly in the Southeast, the largest U.S. solar panel manufacturer said in a press release.
The new completely integrated plant, set to be First Solar’s fourth in America, is anticipated to start operations in 2025, contingent upon permitting and pending government blessings.
First Solar will invest$ 185 million into expanding its three Ohio manufacturing installations.
The company said that its third plant in the state is anticipated to be commissioned in the first six months of 2023.
” In passing the Affectation Reduction Act of 2022, Congress and the Biden- Harris administration has entrusted our assiduity with the responsibility of enabling America’s clean energy future, and we must meet the moment in a manner that’s both timely and sustainable,” First Solar CEO Mark Widmar said in a statement.
He called the investment an” important step towards achieving tone- adequacy in solar technology, which, in turn, supports America’s energy security intentions, its deployment of solar at scale and its capability to lead with invention.”
President Biden inked the Affectation Reduction Act into law before this month. The law allocates $369 billion toward climate and energy programs and includes a duty credit related to U.S. solar cell product.
First Solar’s blazoned investment will add at least 850 new manufacturing jobs, bringing its total number of U.S. workers to over 3,000 by 2025, the company estimated in the release.
