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31 March 2023

Davor Sutija - Forbes Business Council

With the advent of the United States’ first-ever clean energy industrial policy, the Inflation Reduction Act of 2022, the U.S. solar industry is at a pivotal point in history.

As the CEO of a Germany-based company [NexWafe] that designs, develops and pilots a green solar wafer production process to help make the photovoltaics industry more sustainable and efficient, we are happy to see the U.S. taking this step. I wanted to share some insights for U.S. manufacturers who already are or may be considering becoming involved in the industry.

Why is now a good time for manufacturers?

By 2030, it is estimated that the IRA will lead to the installation of roughly 950 million solar panels in America. The IRA not only incentivizes increased installations but provides key benefits for manufacturers of solar products including those companies that produce wafers, cells and modules. These “re-shoring” incentives, which include a $1 per square foot subsidy for the manufacturing of photovoltaic wafers, will likely dramatically expand domestic solar wafer and cell production.

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