First Solar announces new US panel factory following the Inflation Reduction Act

First Solar, the largest solar panel manufacturer in the U.S., said Tuesday that it will build a new panel factory in the US.

First Solar announced Tuesday that it will build a new solar panel manufacturing facility in the U.S. on the heels of the Inflation Reduction Act, which incentivizes domestic manufacturing.

The company will invest up to $1 billion in the new factory, which it plans to build in the Southeast of the U.S. The newly announced plant will be the panel maker’s fourth fully integrated U.S. factory.

First Solar also said Tuesday that it will spend $185 million upgrading and expanding its existing facilities in Ohio.

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Source: CNBC

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