On August 30, 2022, First Solar said it will invest up to $1.2 billion to expand its U.S. manufacturing and grow its domestic footprint following the enactment of the Inflation Reduction Act (IRA), which included long-term tax incentives for solar energy.[1] “In passing the Inflation Reduction Act of 2022, Congress and the Biden-Harris Administration has entrusted our industry with the responsibility of enabling America’s clean energy future and we must meet the moment in a manner that is both timely and sustainable,” said Mark Widmar, chief executive officer of First Solar.

The company plans to scale up operations of its annual production capacity from 6 GW to over 10 GW by 2025. First Solar intends to build its fourth fully integrated domestic factory, with an annual capacity of 3.5 GW, in the Southeast. The company expects to invest up to $1 billion and start operations in 2025. In addition, First Solar will invest $185 million in upgrading and expanding its Northwest Ohio manufacturing footprint by nearly 1 GW. It will also invest in expanding the capacity of its two operating facilities in Ohio and expand a third Ohio factory that is expected to be commissioned in the first half of 2023. The expansion will bring the company’s total investment in the state to more than $3 billion, with a cumulative annual production capacity of just over 7 GW by 2025.

[1] https://investor.firstsolar.com/news/press-release-details/2022/First-Solar-to-Invest-up-to-1.2-Billion-in-Scaling-Production-of-American-Made-Responsible-Solar-by-4.4-GW/default.aspx