US solar boom on hold as industry awaits subsidy rules
Published on 24/04/2023, 2:21pm
Solar installers are waiting to find out which solar panels are considered US-made and qualify for subsidies
By Reuters and Joe Lo
U.S. President Joe Biden’s plan to challenge China’s dominance in solar panel manufacturing hinges in large part on rules his administration will soon release defining what it means for a product to be American-made, according to industry officials.
The Biden administration’s Inflation Reduction Act is offering billions of dollars in tax incentives for facilities using American equipment to accelerate decarbonization of the U.S. power sector while creating domestic jobs.
But the subsidies, signed into law last year, have yet to trigger a boom in U.S. solar manufacturing as investors await guidance on those perks. Their main question: will solar panels qualify if they are assembled in the United States using components made overseas?
As soon as this month, the U.S. Treasury Department is expected to release those details, the latest in a series of advisories on how companies can take advantage of the landmark law.
https://www.climatechangenews.com/2023/04/24/us-solar-boom-on-hold-as-industry-awaits-subsidy-rules/
