Solar firm scraps plan to build major US silicon wafer factory
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CubicPV, a solar energy equipment maker, cancelled its plan to construct a large silicon wafer factory in the US due to falling product prices and high construction expenses.
This decision hampers the Biden administration’s goal of establishing a domestic solar energy supply chain to meet the rising US demand for renewable energy.
China dominates global wafer production, supplying about 98% of the market.
CubicPV Chief Executive Frank van Mierlo said in a statement, “Together with our Board, we’ve concluded that the one thing that could truly make a difference in humanity’s fight against climate change and the US’s ability to realise a solar manufacturing renaissance is to invent a better panel.”
CubicPV, backed partly by Bill Gates’ Breakthrough Energy Ventures, aimed to lead in US wafer production, planning to finish a 10-gigawatt factory this year.
The company intended to benefit from new federal tax credits for solar projects using American-made equipment.
However, recent regulations permit solar facilities to claim the subsidy even if their panels incorporate wafers made overseas, hindering the development of domestic wafer factories.
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