This historic level of investment is key to achieving American manufacturing independence and clean energy security.
Thin-film CdTe solar panels from Toledo Solar, manufactured in the USA.
Late last year President Biden signed an executive order to boost America’s clean energy economy, which included the goal of attaining 100% carbon pollution-free electricity by 2030, 100% zero-emission vehicle acquisition by 2035, and more. Achieving these goals would require extended dependence on China, which is responsible for much of the solar and renewable energy supply chain. Just two of the downsides to the dependence on imports include the fact that China’s manufacturing sector employs low-cost or forced labor, and its manufacturing facilities are powered with electricity produced from coal-fired plants.
The Inflation Reduction Act of 2022 contains $370 billion in spending for renewable energy and climate measures. The bill includes over $60 billion for domestic manufacturing across the clean energy supply chain, which includes clean energy vehicles. This historic level of investment is key to achieving American manufacturing independence and clean energy security.
What’s in the bill for US manufacturing?
“With long-term incentives for clean energy deployment and manufacturing, the solar and storage industry is ready to create hundreds of thousands of new jobs and get to work building out the next era of American energy leadership. This is a crucial window of opportunity that we cannot miss, and now Congress must seal the deal and pass this legislation,” said Abigail Ross Hopper, president of the Solar Energy Industries Association.
The bill is expected to head to the Senate floor for a vote as early as next week.
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