Biden Climate Law Spurs at Least $16.2 Billion of Cleantech
(Bloomberg) -- Three months after President Joe Biden signed a sweeping climate law, several cleantech companies have moved forward with new US manufacturing factories that will cost at least $16.2 billion, according to data compiled by Bloomberg.
The latest: First Solar Inc. and Italian utility giant Enel SpA. First Solar, the largest US panel maker, said Wednesday that it plans to build a $1.1 billion factory in Alabama. Enel, a major clean-power developer, said Thursday that it also expects to build a US plant.
The Inflation Reduction Act offers generous incentives to support new domestic solar, battery and electric-vehicle factories. Some of the planned US plants were announced after its passage. At least one facility that was in the works beforehand recently broke ground.
(Updates with costs in first paragraph.)
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