US Solar Industry Players Celebrate Inflation Reduction Act At White House
Yesterday, US solar leaders gathered on the White House lawn to celebrate the passage of the Inflationary Reduction Act (IRA), one month after it went into effect.
President Joe Biden brought together lawmakers, renewable energy trade associations, solar energy developers and manufacturers, and activists to celebrate the passage of what has been called the largest climate package in US history.
"We will take the most aggressive action to overcome the climate crisis and improve our energy security," Biden said in his speech.
It includes $369 billion in allocations for decarbonization efforts, IRAs, expanded industrial solar tax credits and manufacturing credits for some photovoltaic components.
Research firm Wood Mackenzie predicts the law will increase industrial-scale solar production by 86% over the next decade, and trade organization the Solar Energy Industries Association estimates the country's production capacity could top 50 gigawatts. Thanks to the incentives provided by the Decade Law.
The passage of the legislation followed a period of uncertainty earlier this year when Democrats failed to push a comprehensive BETTER RESTORE bill through the Senate. However, in late July, West Virginia's senior senator, Joe Manchin, reached an agreement on the IRA vote.
Among those attending the White House event was Dan Sugar, CEO of tracker NextTracker, who wrote on LinkedIn that he was honored to be invited to celebrate what he called the biggest cleantech policy in US history.
He wrote: “Now we have to deliver. Provide manufacturing facilities in the United States. Get a job in the US. Offer customers a low cost. and greater energy security, clean air and clean water."
After opening three plants in the US this year - in Pennsylvania, Texas and Arizona - Nextracker confirmed to PV Tech that it is considering expanding and ramping up production at its plants as a result of the IRA.
Also in attendance was Mary Powell, CEO of solar panel installer Sunrun, who said the IRA is greatly expanding access to clean, reliable and affordable energy, adding, "America's families can now take advantage of new incentives. Internal taxes, solar panels, batteries. , heating, electric vehicles and much more. This is a huge win for the American people."