US Solar Subsidy Rules Awaited by Companies Eyeing American-made Panels

The Biden administration's Inflation Reduction Act offers tax incentives for facilities using American equipment to accelerate decarbonization of the US power sector while creating domestic jobs. However, investors are awaiting guidance on those perks, particularly on what it means for a product to be American-made. The US Treasury Department is expected to release those details soon. The Solar Energy Industries Association (SEIA) has proposed that panels assembled in the United States should qualify for the credit regardless of where the cells inside them are produced. But manufacturers hoping to set up or expand domestic factories for solar components want stricter rules, saying requiring solar wafers and cells to be made in America is key to producing goods that today are almost exclusively made in China.