"The Rapid Rise of Solar Energy in the US: A $100B Boost from Biden's Climate Law"

Since the passage of the Inflation Reduction Act (IRA) a year ago, solar and storage companies in the US have announced over $100 billion in private sector investments, with 51 solar factories being announced or expanded. These factories will invest nearly $20 billion and add 155 gigawatts (GW) of new production capacity across the solar supply chain. The announcements include significant capacity for solar panels, cells, silicon ingots and wafers, and inverters. The solar factories are expected to employ over 20,000 Americans and will increase the US manufacturing capacity by over 17 times by 2026. Additionally, 65 GWh of battery storage manufacturing capacity has been announced, along with the deployment of over 3 GW of new large-scale energy storage projects in the past year. The surge in demand for American-made clean energy is attributed to the clean energy incentives enacted by Congress.