US Solar Manufacturing Tax Credit — Updated, To Create More Jobs – CleanTechnica

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I know, it’s hard to keep track of all these cleantech tax credits. The US is now offering tax credits for solar panels, solar cells, electric cars, batteries, wind turbines, heat pumps, and more. The Inflation Reduction Act created some new ones, extended others, and is stimulating a lot more cleantech manufacturing and cleantech adoption.

The latest news in this regard bolsters the solar industry in the US — or the solar industries, as SEIA would appropriately say.

“Today the US Department of the Treasury issued final rules for the Advanced Manufacturing Production Tax Credit under Section 45X that accepted many of the Solar Energy Industries Association’s (SEIA’s) recommendations,” SEIA wrote earlier today.

“Section 45X provides incentives for solar and energy storage manufacturers across the supply chain, including manufacturers that produce solar cells, solar modules, inverters, trackers, and other parts of the supply chain. Because this tax credit is tied to production volume, it provides long-term support for manufacturers once a facility opens.”

We’re rolling with stronger and stronger solar and energy storage policies that are stimulating solar panel production, solar cell production, battery pack production, battery cell production, and much more. Manufacturing, and especially cleantech manufacturing, is getting big support that is growing jobs and economic investment across the country.

“Section 45X is one of the most influential policies we have to onshore the solar supply chain. Clarity is key, and these rules provide the certainty domestic solar and storage manufacturers need to move forward with their investments,” Abigail Ross Hopper, president and CEO of SEIA, states.

“Over the last year SEIA has advocated for solutions that make this credit more accessible, including realistic solutions to expand eligibility for inverter manufacturers and help storage manufacturers recoup upfront costs for accessing critical minerals.

“As a result of these rules, investments in American workers and factories are here to stay. Whether it’s solar panel manufacturing in Georgia, steel rolling in Pennsylvania, or mineral production in Montana, the solar and storage industry is committed to making homegrown solar products.

“We commend Treasury and the Biden administration for their continued efforts to support domestic manufacturing and invest in our energy independence.”

This is what strong cleantech leadership brings. This is what a climate-solutions focused administration brings. This is what happens when you elect politicians who are focused on growing the cleantech movement while growing domestic jobs and economic activity.

For decades, this funny idea was prevalent that you’re either pro environment or pro economy. Nowadays, unless you’re operating in no man’s land, being pro environment means being pro economy. For the past couple of decades, nothing has been stronger as an economic stimulus than strong climate-solutions policies.

The Inflation Reduction Act of 2022 is proving to be the biggest stimulus for US manufacturing and “reshoring” of blue color jobs the country has ever seen. This latest ruling is going to stimulate that much more manufacturing investment, jobs, and economic growth. I look forward to seeing the numbers showing us the specific results. Hopefully SEIA is already getting to work tracking that, and thanks to SEIA for working to advance these strong policies.