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South Korean Company Plans to Invest $2.5 Billion in New Solar Panel Factories in Georgia


The present Qcells plant in Dalton, Georgia is the biggest photo voltaic panel maker within the Western Hemisphere. Qcells

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The long run seems vibrant for the US photo voltaic trade, with common annual development predicted to be 21 p.c from 2023 to 2027, due to the passage of the Inflation Discount Act (IRA) final yr, Photo voltaic Vitality Industries Affiliation stories. Corporations that manufacture photo voltaic panel elements are eligible to assert tax credit beneath the IRA.

Not solely is the photo voltaic trade rising, it has to import much less of its photo voltaic panels when South Korean photo voltaic panel producer Qcells units up store within the American South. A unit of Hanwha Options, Qcells plans to construct factories in Georgia for $2.5 billion, The Related Press reported. It is going to additionally rent 2,500 new workers to make photo voltaic elements which might be largely produced exterior the US

Qcells will start development on a brand new manufacturing facility in Cartersville, Georgia, inside weeks that may make use of 2,000 folks and start manufacturing earlier than the tip of subsequent yr.

The corporate’s Dalton plant is the biggest photo voltaic panel maker within the Western Hemisphere, and it plans so as to add 500 new jobs there.

“As the necessity for clear power continues to develop within the nation, we’re able to put 1000’s of individuals to work creating absolutely American-made and sustainable photo voltaic options, from uncooked materials to of completed panels,” mentioned Qcells CEO Justin Lee, as The New York Instances reported.

In a press release, President Joe Biden mentioned the Qcells announcement means decrease prices for photo voltaic panels, good jobs and decreased carbon emissions.

“Q CELLS’ funding in Hanwha will create 1000’s of good-paying jobs in Georgia, lots of which don’t require a four-year diploma. It is going to restore our provide chains in order that we aren’t depending on different nations, scale back the price of clear power, and assist us overcome the local weather disaster. And, it’s going to make sure that we produce cutting-edge, photo voltaic expertise right here at house,” President Biden mentioned, in line with a White Home press launch.

The Cartersville plant will assemble photo voltaic cells and panels, in addition to different elements.

President Biden’s Nationwide Financial Council Director Brian Deese mentioned provide chain integration would assist cease China’s management over the availability of photo voltaic panel elements and drive provide chains abroad, reported the The Related Press.

After the corporate’s growth, Qcells will produce about 10,000 photo voltaic panels that may produce 8.4 gigawatts of electrical energy — 3.3 gigawatts of capability in Cartersville and 5.1 gigawatts in Dalton.

“By 2027, the growth of Qcells is predicted to supply about 30% of the full US demand for photo voltaic panels,” mentioned Senior Advisor to President Joe Biden for clear power transition and implementation John Podesta, as reported by The Related Press. “I feel it is truthful to say that this settlement is President Biden’s imaginative and prescient come to life.”

Nationwide Local weather Adviser for the Biden Administration Ali Zaidi mentioned the manufacturing of photo voltaic panels in US factories is ready to greater than quadruple to 33.5 gigawatts subsequent yr, which is “sufficient to supply about 5 million households to change to wash photo voltaic power yearly,” Zaidi mentioned, as reported by The Related Press.

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