Some of the largest Chinese solar panel makers are setting up shop in the United States thanks to new clean energy manufacturing subsidies contained in President Joe Biden's 2022 Inflation Reduction Act.
Here is a list of Chinese companies investing in U.S. solar equipment factories:
ILLUMINATE USA
Illuminate is a joint venture between Chinese solar equipment maker Longi (601012.SS) and U.S. clean energy project developer Invenergy. The company started producing solar panels at a five-gigawatt plant in Pataskala, Ohio in February. It aims to be at full capacity by the end of 2024 and will employ 1,000 workers. Illuminate said it is investing $600 million in equipment, raw materials, salaries and staff training and is evaluating whether to expand into cell manufacturing.
TRINA SOLAR
JINKO SOLAR
JA SOLAR
RUNERGY
Runergy is building a five-GW solar module plant in Huntsville, Alabama in a factory previously occupied by a DVD manufacturer. The company said the factory will create 800 jobs and will begin shipping products to customers this summer. Runergy is considering additional manufacturing investments in the United States that would add an additional 1,500 jobs.
BOVIET SOLAR
Boviet will invest $294 million in solar cell and module factories in Greenville, North Carolina. The two-GW module plant is expected to start production in the first quarter of 2025 in a plant formerly used to make automotive components. Boviet plans to build a new factory to produce two GW of cells that will start production in 2026. The investments are expected to create 908 jobs. Founded in Vietnam in 2013, Boviet was acquired by China's Boway Alloy (601137.SS) in 2016.
HOUNEN SOLAR
Hounen Solar is investing $33 million in a one-GW factory in Orangeburg, South Carolina that will create 200 jobs.
