Inflation Reduction Act

US solar and wind developer Duke Energy Renewables has received a US$90 million tax equity investment from financial holding company CapitalOne towards the 120MW Jackpot solar PV project in Idaho.

The US Treasury Department yesterday released guidance on the bonuses included in the Inflation Reduction Act (IRA) for historically fossil-fuel producing ‘energy communities’.

Hanwha Advanced Materials Georgia (HAGA) – part of Hanwha Solutions – will increase its investment in the US state of Georgia to support the integrated supply chain plans of its PV manufacturing subsidiary QCells.

Solar and wind installations in the US could account for between 40% and 62% of total electricity generation by 2030, according to a report from the National Renewable Energy Laboratory (NREL).

US PV manufacturer Silfab has closed a US$125 million investment led by ARC Financial Corp to fund a 1GW solar cell manufacturing facility in the US.

The combined effects of the ongoing anti-dumping and countervailing duty (AD/CVD) tariff investigation and the Uyghur Forced Labor Prevention Act (UFLPA) curbed US solar deployments in 2022, according to a joint report from the Solar Energy Industries Association (SEIA) and Wood Mackenzie.

Solar and energy storage project development company Savion has signed an agreement to buy 2.6GWdc of modules from First Solar.

US community solar deployment is expected to more than double over the next five years despite 2022 seeing a 16% decline year-on-year, as the sector is set to see benefits from the Inflation Reduction Act (IRA) taking hold.

The US government has announced plans to enable states and non-profit entities to apply for US$27 billion in funding, financing projects that can help combat climate change.

Australian renewables association Clean Energy Council has called on the Australian Government to respond to the US Inflation Reduction Act (IRA).