Tag Archive for: firstsolar

First Solar plans to spend as much as $1.1B on a new US factory, a sign that president Biden’s IRA is boosting domestic clean energy industry

First Solar to invest $1.1 billion in fifth US panel factory

First Solar Inc. plans to spend as much as $1.1 billion on a new US manufacturing site, a sign that president Joe Biden’s Inflation Reduction Act is boosting domestic clean energy industry.

The plant will be able to produce panels capable of generating 3.5 gigawatts of solar power per year upon completion in 2026, according to a statement Thursday. The company hasn’t yet picked a location for what will be its fifth US factory.

Aided by incentives from the IRA, the biggest US panel maker has now committed $2.8 billion in the past year to expand US production. The new plant will give First Solar total annual capacity of 14 gigawatts in the US and 25 gigawatts globally.

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Source: Bloomberg

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First Solar has selected Alabama as the site for its fourth U.S. panel factory. The climate bill was a key catalyst for the new facility.

Alabama selected for new factory as IRA prompts domestic manufacturing boom

First Solar said Wednesday that it has selected Alabama as the site for its fourth U.S. solar panel manufacturing facility, after the Inflation Reduction Act and its incentives for domestic manufacturing encouraged companies to onshore production.

First Solar will spend around $1.1 billion on the facility in North Alabama’s Lawrence County. The company announced plans for a new facility in August, but hadn’t yet disclosed the location. First Solar CEO Mark Widmar previously told CNBC that the Inflation Reduction Act was the key catalyst that led First Solar to choose the U.S. for its latest factory.

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Source: CNBC

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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 announces new US panel factory following the Inflation Reduction Act

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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