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Plant(s): View 7 related plants in PECWeb
Released October 11, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Not only does the Biden administration's Inflation Reduction Act (IRA), which was passed in August, provide tax credits for renewable energy projects, but also for the manufacture and recycling of the components used in these projects, such as wind turbines and solar panels.
The credits will kick off next year and vary by component and whether the owner meets certain wage and apprenticeship requirements; it looks like the anticipated manufacturing credits may be doing some good in strengthening the base for renewables manufacturing in the U.S. Industrial Info is tracking more than $3 billion in active projects for the manufacturing of wind and solar power components, some of which can be directly attributed to the IRA's incentive.
Among the biggest announcements related to the IRA was from leading U.S. solar panel manufacturer First Solar Incorporated's (NASDAQ:FSLR) (Tempe, Arizona). After the passage of the act, the company announced that it will spend $1.2 billion to expand manufacturing operations in the U.S., including a new plant in the southeastern U.S. First Solar said it will invest $1 billion in the new factory, which is planned to begin operations in 2025. The company plans to select a location for the plant later this year. "We believe that with the IRA, we have a durable industrial policy foundation, one that we have long been advocating for, that's comprehensive in its foundation and will enable the solar industry as a whole," First Solar Chief Executive Officer Mark Widmar said on a call with news media earlier this year.
First Solar already is investing an estimated $680 million at its manufacturing campus in Perrysburg, Ohio, by constructing a plant to manufacture 3.3 gigawatts (GW) of panels per year. Construction kicked off last summer and is expected to be completed in mid-2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the full report.
Several other solar panel manufacturing sites are planned to kick off later this year or next year. These include:
While not as dominant a player as the solar sector, Industrial Info also is seeing some movement in the U.S. wind turbine manufacturing segment. Siemens Gamesa (Zamudio, Spain) next year plans to kick off construction of a plant to manufacture blades for offshore turbines in Portsmouth, Virginia. The facility will provide the blades for Dominion Energy Incorporated's (NYSE:D) (Richmond, Virginia) Coastal Virginia Offshore Wind (CVOW) project in Virginia. Subscribers can click here for the report on the turbine blade manufacturing plant and here for the report on the CVOW project.
Other planned projects for wind turbine components include Carter Wind Energy LLC's grassroot tower and blade manufacturing plant in Lawton, Oklahoma. Carter manufactures two-blade turbines that don't require cranes for erection. The turbines produce 500 kilowatts or less and are ideally suited for microgrids and other locations not viable with conventional turbine technologies. The project is expected to kick off early next year and be completed by yearend. Subscribers can click here for the full report.
Other projects involving turbines include Renew Energy's (Sioux Falls, South Dakota) renovation and expansion of its turbine drive trains plant in Enid, Oklahoma, which includes a 27,000-square-foot building addition to remanufacture turbines of up to 7 MW. Construction is expected to kick off toward to the end of this year and be completed in late 2023. Subscribers can click here for more details.
Subscribers can click here for a list of all project reports mentioned in this article and click here for all related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
The credits will kick off next year and vary by component and whether the owner meets certain wage and apprenticeship requirements; it looks like the anticipated manufacturing credits may be doing some good in strengthening the base for renewables manufacturing in the U.S. Industrial Info is tracking more than $3 billion in active projects for the manufacturing of wind and solar power components, some of which can be directly attributed to the IRA's incentive.
Among the biggest announcements related to the IRA was from leading U.S. solar panel manufacturer First Solar Incorporated's (NASDAQ:FSLR) (Tempe, Arizona). After the passage of the act, the company announced that it will spend $1.2 billion to expand manufacturing operations in the U.S., including a new plant in the southeastern U.S. First Solar said it will invest $1 billion in the new factory, which is planned to begin operations in 2025. The company plans to select a location for the plant later this year. "We believe that with the IRA, we have a durable industrial policy foundation, one that we have long been advocating for, that's comprehensive in its foundation and will enable the solar industry as a whole," First Solar Chief Executive Officer Mark Widmar said on a call with news media earlier this year.
First Solar already is investing an estimated $680 million at its manufacturing campus in Perrysburg, Ohio, by constructing a plant to manufacture 3.3 gigawatts (GW) of panels per year. Construction kicked off last summer and is expected to be completed in mid-2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the full report.
Several other solar panel manufacturing sites are planned to kick off later this year or next year. These include:
- Sun Pacific Holding Corporation's (Manalapan, New Jersey) grassroot panel manufacturing plant in New Jersey (see project report)
- Convalt Energy LLC's (Watertown, New York) grassroot panel manufacturing plant in Dexter, New York (see project report)
- GAF Energy LLC's (Campbell, California) grassroot solar roofing shingles manufacturing plant in Georgetown, Texas (see project report).
While not as dominant a player as the solar sector, Industrial Info also is seeing some movement in the U.S. wind turbine manufacturing segment. Siemens Gamesa (Zamudio, Spain) next year plans to kick off construction of a plant to manufacture blades for offshore turbines in Portsmouth, Virginia. The facility will provide the blades for Dominion Energy Incorporated's (NYSE:D) (Richmond, Virginia) Coastal Virginia Offshore Wind (CVOW) project in Virginia. Subscribers can click here for the report on the turbine blade manufacturing plant and here for the report on the CVOW project.
Other planned projects for wind turbine components include Carter Wind Energy LLC's grassroot tower and blade manufacturing plant in Lawton, Oklahoma. Carter manufactures two-blade turbines that don't require cranes for erection. The turbines produce 500 kilowatts or less and are ideally suited for microgrids and other locations not viable with conventional turbine technologies. The project is expected to kick off early next year and be completed by yearend. Subscribers can click here for the full report.
Other projects involving turbines include Renew Energy's (Sioux Falls, South Dakota) renovation and expansion of its turbine drive trains plant in Enid, Oklahoma, which includes a 27,000-square-foot building addition to remanufacture turbines of up to 7 MW. Construction is expected to kick off toward to the end of this year and be completed in late 2023. Subscribers can click here for more details.
Subscribers can click here for a list of all project reports mentioned in this article and click here for all related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
