Jan. 11 (UPI) — President Joe Biden on Wednesday said a $2.5 billion investment in a solar panel plant in Georgia from South Korea-based Hanwha Qcells indicates the United States can be a leader in clean energy manufacturing.
Billed as the largest investment of its kind in U.S. history, Qcells announced it would invest billions in Georgia to create a “complete solar supply chain in the United States.”
Qcells said it would break ground soon on a facility that’s expected to create nearly 2,500 new jobs in Georgia.
Biden in a statement praising the investment decision said it could help establish the United States as a world leader in manufacturing during the clean energy transition.
“It will bring back our supply chains so we aren’t reliant on other countries, lower the cost of clean energy, and help us combat the climate crisis,” he said. “And, it will ensure that we manufacture cutting-edge, solar technology here at home.”
The Biden administration allocated some $10 million in the 2022 bipartisan infrastructure package for the solar industry. Broad-based incentives are geared toward building up the renewable energy sector at home to avoid relying on foreign suppliers.
China in the past was accused of flooding the solar panel market with low-priced goods, outcompeting domestic manufacturers.
The Korean company said the investment decision is part of a broader effort to expand its footprint in the U.S. market through direct manufacturing.
“As demand for clean energy continues to grow nationally, we’re ready to put thousands of people to work creating fully American made and sustainable solar solutions, from raw material to finished panels,” said Justin Lee, CEO of Qcells.
Qcells opened its first solar panel factory in Georgia in 2019, boasting a manufacturing equivalent of 1.7 gigawatts of solar capacity. The new investment should help the company expand its production capacity in Georgia to 8.4 GW by 2024.