US Treasury's stance on domestic solar panel production.
The US Treasury Department has issued guidelines for a new subsidy for solar energy projects built with American-made products, allowing developers to claim the subsidy even if the panels contain cells made entirely with Chinese materials. The rules represent a compromise between solar project developers and manufacturers that want to expand and compete with China to supply the US market. The clarification is seen as a boon to companies with existing or future plans for US factories, and shares of First Solar and Enphase Energy rose following the announcement. The Inflation Reduction Act offers billions of dollars in tax credits for facilities using American equipment to speed decarbonization of the US power sector, create domestic jobs and challenge China's dominance in manufacturing.