Solar power purchase agreement prices in Q2 2023 in North America have dropped for the first time since Q1 2020 thanks to the increase in incorporating benefits of the Inflation Reduction Act and a stabilised solar supply chain.
The IRS’ guidance on the domestic content tax bonus for solar projects under the IRA “makes it difficult for developers to attempt to access the 10% bonus ITC”, according to Martin Pochtaruk, president of North American solar PV manufacturer Heliene.
The US Department of Energy (DOE) has released US$45 million in funding to support domestic solar manufacturing and dual-use PV projects, US$18 million of which is issued under the Bipartisan Infrastructure Law.
Microinverter supplier Enphase Energy has inaugurated a new manufacturing facility in Columbia, South Carolina in partnership with international manufacturing company Flex. It is the first of up to six planned US facilities, Enphase has said.
Gyanesh Chaudhary, Vikram Solar’s chairman, tells PV Tech Premium about the company’s first vertical integration and manufacturing facility abroad and how it was driven by the IRA and recent cell capacity wins in India.
The Environmental Protection Agency (EPA) of the US has launched a US$7 billion competitive grant competition to offer low-income households access to solar energy.
Global demand for solar PV could rise up to 40% in 2023 as favourable economics in the solar sector combine with broad policies like the Inflation Reduction Act (IRA) and REPowerEU schemes.
Last week the US Department of Treasury and Internal Revenue Service (IRS) released guidance on tax credits included in the Inflation Reduction Act (IRA), which allow state and local governments, nonprofits and other entities to benefit from renewable energy tax breaks.
