Supply of clean energy to 140,000 households
Visiting Vice President Harris’ Factory “The World’s Best”
Domestic companies benefit from Chinese-controlled IRAs
Hanwha Q Cells, a US subsidiary of Hanwha Solutions, has decided to supply 2.5 million solar panels to US companies in accordance with the US government’s joint solar power generation project. While the US administration of Joe Biden is working to reduce its dependence on the Chinese solar power industry based on the Inflation Reduction Act (IRA), there is a prospect that domestic-related companies will enter the US market in earnest.
U.S. Vice President Kamala Harris visited the Hanwha Q Cells solar module plant in Dalton, Georgia on the 6th (local time) and said, “I am proud to announce that Hanwha Q Cells has received a new order for the production of 2.5 million solar panels.” The solar panels produced in the world are the best,” he emphasized. In response, Hanwha Solutions Vice Chairman Kim Dong-kwan (pictured) said, “We will create more than 2,500 quality jobs by next year and stably supply solar modules that can provide clean energy to millions of households every year.”
It is the first time that Vice President Harris has officially visited the workplace of a Korean company in the United States. After his speech, Vice President Harris toured the module factory and nearby factory expansion sites. Hanwha Q Cells announced in January that it would build a ‘solar hub’ by investing 2.5 billion dollars (approximately 3.3 trillion won) to expand its Dalton, Georgia, plant and build a plant in nearby Cartersville.
The joint solar power generation project is a business that supplies electricity to hundreds of households by installing large solar panels. Hanwha Q Cells, in partnership with Summit Ridge Energy, a U.S. energy company, supplied 2.5 million solar panels to provide a total of 1.2GW (gigawatts) of solar energy to 140,000 homes and businesses in the U.S., equivalent to one nuclear power plant. plan to supply.
A high-ranking official from the Biden administration said at a briefing, “The contract between Hanwha Q Cells and Summit Ridge Energy is historic,” and said, “It will be the largest local solar power purchase contract in US history.”
While the Biden administration decided to provide tax benefits not only to solar power generation companies but also to solar component manufacturing companies in the IRA detailed guidelines, this contract is expected to be a representative IRA beneficiary case for domestic companies. As the Biden administration started to exclude Chinese products, such as extending the high tariff policy on Chinese-made solar panels, which accounted for about 70% of the global solar market, domestic companies are laying the groundwork to solidify their position as leaders in the US solar market. that it is done
An official from the domestic solar power industry said, “Among non-Chinese solar power companies, domestic companies are virtually the only ones with competitiveness.” will,” he said.
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.