Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia

Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia

In 2021, Mr. Ossoff introduced a bill, the Solar Energy Manufacturing for America Act, that would have provided tax incentives to solar manufacturers. The bill was later incorporated into the Inflation Reduction Act.

Under the legislation, businesses receive a tax credit at every stage of the supply chain. The act includes an estimated $30 billion in production tax credits to accelerate manufacturing of solar panels, wind turbines, batteries and for the processing of critical minerals. The law also offers an investment tax credit to companies that build factories that produce electric vehicles, wind turbines and solar panels.

Those and other provisions are intended to reduce reliance on China, which dominates the supply chain for crucial raw materials and components for batteries and solar panels. In addition to the fear that the United States was losing ground in important technologies, lawmakers have also been concerned that some Chinese producers are using forced labor.

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