Beautiful Virgin Islands

Wednesday, Feb 05, 2025

First Solar pledges big U.S. factory expansion thanks to climate law

First Solar pledges big U.S. factory expansion thanks to climate law

First Solar Inc will spend $1.2 billion to expand its solar panel manufacturing operations in the United States, creating hundreds of jobs including with a new factory in the Southeast, the company said on Tuesday.
It is among the first major corporate investments announced following the Inflation Reduction Act (IRA), a $430 billion package of policies aimed at combating climate change that President Joe Biden signed into law this month. The IRA includes new tax credits for U.S.-made solar products.

It is also an about-face for the largest U.S. solar panel maker, which said earlier this summer it was unlikely to build its next factory in the United States due to the lack of federal support.

Now, First Solar said it would invest $1 billion in a new factory in the Southeast that will begin operations in 2025. The company plans to select the location later this year.

It will also spend $185 million to expand production in Ohio, where it has two facilities and is building a third.

The expansions are expected to create 850 jobs and bring the company's total U.S. workforce to 3,000.

"We believe that with the IRA we have a durable industrial policy foundation, one that we have long been advocating for, that's comprehensive in its foundation and will enable the solar industry as a whole," Chief Executive Mark Widmar said on a call with reporters.

Some 90% of panels installed in the United States are made overseas, but imports have been constrained by pandemic-related supply chain disruptions, tariff threats and increased border scrutiny to block supplies linked to forced labor.

U.S. project developers, meanwhile, have flocked to First Solar's cadmium telluride products in part because the technology does not rely on polysilicon, a raw material primarily made in China and used in the vast majority of panels.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
European Union Proposes Reforms to 1951 Refugee Convention
China's humanoid robots poised to transform everyday living and spiritual functions.
Changes in US tariffs on Chinese products could affect consumers more significantly than they do China.
How Innovations in China's Humanoid Robots Ignite Fierce Competition with the US
Germany Experiences 34% Decrease in Asylum Applications During Migration Discussion
Experts Challenge Conviction of UK Nurse Lucy Letby for Baby Killings
AfD Chief Alice Weidel Enhances Global Standing Through Meeting with Viktor Orban
Nigel Farage's Reform UK Party Leads Poll Amid Growing Public Demand for Change
Conor Murphy Steps Down as Northern Ireland Economy Minister to Join Irish Parliament
Over 1 Million Face Penalties After Missing HMRC Self-Assessment Tax Deadline
Scottish Government Denies Plans to Ban Cat Ownership Amid Controversy
Bridget Phillipson Urges Parents to Prioritize School Attendance Amid Rising Absence Rates
Keir Starmer Advocates for Stronger UK-EU Security Partnership in Brussels
Six English Councils Granted Permission to Raise Council Tax Bills Above Cap Amid Financial Struggles
Keir Starmer Faces Growing Backlash Over Potential Approval of Rosebank Oilfield
AI Consciousness Raises Ethical Concerns, Say Experts
Families Urge NHS England to Release Full Report on Nottingham Triple Homicide
NHS Initiates Largest AI Trial for Breast Cancer Detection
UK Tightens Regulations on Online Sales of Weight-Loss Injections
Gambling Ads Shown to Parents on Baby Monitor App, Raising Concerns
Ancient Irish Rainforests at Risk Due to the Growth of Monoculture Plantations
EU Leaders Deliberate on Defense Strategy Amid Rising U.S. Tensions
EU Leaders Convene Important Summit on Defense in Response to Rising Tensions
Trump Directs Establishment of U.S. Sovereign Wealth Fund, Considers TikTok Purchase
Britain Considers U.S. Gas Imports in Response to Possible Trump Tariffs
French Prime Minister Bayrou Confronts Several No-Confidence Votes Regarding the 2025 Budget
Shutdown of USAID Headquarters in Light of U.S. Government Reduction Initiatives
President Trump Launches Establishment of U.S. Sovereign Wealth Fund with Possible TikTok Purchase
Investigation Launched Following Viral Video of Bodybuilder's Airport Prank
Cooling Blankets: A Remedy for Those Who Sleep Hot or Just a Marketing Ploy?
Trump Wins Again as Canada Agrees to Strengthen Border Security
Trump Seeks Rare Minerals from Ukraine in Exchange for U.S. Support
EU Leaders Reach Consensus to Increase Defence Expenditure in Response to Growing Security Threats
UK Business Confidence Declines Amid Economic Uncertainty, Lloyds Survey Shows
Abhishek Sharma's Century Secures India a 4-1 T20 Series Win Over England
UK Prime Minister Keir Starmer will welcome German Chancellor Olaf Scholz for talks at Chequers.
Australian soccer sensation Sam Kerr confronts a racial abuse trial in London.
Lloyds and Barclays Bank Customers Experience Service Outages
Thames Water Seeks Court Approval for £3 Billion Rescue Plan Amid Crisis
UK Manufacturing Activity Contracts for Fourth Consecutive Month in January, PMI Shows
Ex-British Soldier Receives Sentence for Espionage on Behalf of Iran and Fleeing Custody
Emergency Crews Deployed on Santorini as Earthquake Swarm Raises Concerns
Wall Street Journal Criticizes Trump's Trade War with Canada and Mexico
Trump Freezes Tariffs on Mexico After Agreement on Border Security
Nearly 96% of New Cars Registered in Norway in January Were Electric
One Dead, Thousands Evacuated as Floods Hit North Queensland
Bart De Wever Appointed Belgium's New Prime Minister
Apple Abandons AR Glasses Project Amid Struggles with Technology and Market Demand
US Man Receives Photo Instead of Drill After Placing Order on Chinese Website
U.S. Clinical Trial Investigates Medication to Prolong Dogs' Lifespan
×