Two small solar manufacturers, Heliene in Canada, which operates in Minnesota, and Suniva in Georgia, are working together to create panels that qualify for a new federal incentive for clean energy equipment built in the United States. The Biden administration has praised this alliance as evidence of the Inflation Reduction Act’s (IRA) achievement in creating a local solar manufacturing sector that can compete with China.
Janet Yellen, the Treasury Secretary, applauded the initiative and brought up the difficulties that American solar entrepreneurs had in the past. Suniva has signed a $400 million, three-year contract with Heliene to supply cells for panel assembly, reviving an idle factory. The partnership plans to produce enough panels to power roughly 350,000 households.
According to Treasury Department regulations unveiled a year ago, developers utilising panels with American-made cells are eligible for a 10% tax credit as part of the 2022 IRA. Several manufacturers are pushing for stronger domestic content regulations to combat Chinese market dominance.
Cristiano Amoruso, CEO of Suniva, praised the effectiveness of the Treasury’s domestic content guidelines and the IRA. An additional 30% IRA tax credit for renewable energy plants is provided via the domestic content credit.
