The solar equipment manufacturer Qcells this morning announced a $2.5 billion investment in Georgia, Ben writes.
Driving the news: The company is building a new facility in Cartersville, 55 miles outside Atlanta, and expanding its panel plant in Dalton.
- Qcells, an arm of Korean industrial giant Hanwha, cited incentives in the recently enacted climate law.
- The new plant will manufacture ingots, wafers, cells, and finished panels.
- It’s also taking steps to source silicon materials in the U.S., touting a “fully integrated” domestic supply chain.
Why it matters: It signals how the new statute, which greatly expands federal support for manufacturing low-emissions energy tech, is affecting business decisions.
The big picture: Qcells and President Biden, in a statement touting its link to the new law, called it the largest-ever U.S. solar investment.
Zoom in: Qcells specifically cited a provision crafted by Sen. Jon Ossoff (D) that provides tax credits for domestically produced solar equipment.
The company plans to have 8.4 gigawatts of production capacity in Georgia by 2024 and hire another 2,500 people.
What they’re saying: Ossoff, in a statement, said his goal is to “make Georgia the world leader in advanced energy production.”
Brian Kemp, the state’s GOP governor, credited the state’s “business-friendly environment.”
Leave A Comment