USA, investments in solar are growing: First Solar writes a billion-dollar check
Playing in favor of this choice is certainly the measure promoted by Biden in 2022, the Inflation Reduction Act, intended to strengthen the American economy by encouraging the production of strategic goods [including batteries for electric cars, electric vehicles and RES, but not only] in order to make the United States independent – and protected – from other countries, especially China.
First Solar’s fifth factory, the location of which has not been disclosed at this time, will be vertically integrated and should bring the company’s production capacity to +3.5 gigawatts, reaching 14 GW (approximately) in the United States and 25 GW globally in 2026, the year in which the plant (which will produce the Series 7 modules) is expected to open its doors.
These latest panels, already in production in the factory located in Ohio, use glass and steel produced in the United States, perfectly fitting the IRA requirements: with the opening of the fifth factory, they will represent over two-thirds of the national nominal capacity, on a annual, by First Solar.
“This decision is supported by solid foundations, including an order book of approximately 78 GW, the strongest balance sheet in the industry, a vertically integrated and repeatable production model, and a proven technology platform. With this investment, we continue to contribute to deliver on the promise of the Inflation Reduction Act to create lasting value for our country.”