Photovoltaic project developer and EPC company SPI Energy has signed a letter of intent to secure 1.5 GW of solar wafer manufacturing equipment for a US production plant.
The company is targeting the production and delivery of solar wafers in the United States by 2023, while it has planned to further increase its solar wafer capacity to 3 GW by 2024.
The announcement comes days after US President Joe Biden signed into law the Inflation Reduction Act (IRA) which will include tax credits for manufacturing solar wafers, with manufacturers receiving $12 per square meter.
“I’m so grateful to see the bill pass because not only will it lower energy prices and help the country meet its climate goals, but it will also boost American industry and create jobs,” he said. said Xiaofeng Denton Peng, Chairman and CEO of SPI Energy.
Billed as the largest climate package in US history, the IRA’s impact on solar manufacturing could boost its capacity to more than 50 GW by the end of the decade, according to the trade body. Solar Energy Industries Association (SEIA).
With the legislation billed as “the best chance for the United States” to create a domestic PV manufacturing base, SPI Energy is the latest company to announce it will start manufacturing in the United States or expand production, as reported. does Maxeon and REC Silicon. recently.