Adani Group Chairman Gautam Adani said this week the Group will invest $10 billion in US energy security and infrastructure projects, creating up to 15,000 jobs in America.
While specific areas of investment are not yet announced, solar manufacturing looks a probable area of investment given USA is the world’s second-largest solar consumer after China and the nation has prioritized domestic manufacturing with the introduction of policies like the Inflation Reduction Act (IRA).
The US Inflation Reduction Act sets forth demand and supply-side incentives to encourage solar manufacturing within the United States in the form of production tax credits for manufacturers and investment tax credits for project developers using domestic content. These incentives have driven investments from global PV component manufacturers including some Indian players like Waaree Energies, Navitas and Premier Energies.
With a strong industrial policy like Inflation Reduction Act building out domestic solar manufacturing, bringing jobs to the U.S., and increasing clean energy capacity, analysts believe the newly elected Trump administration is unlikely to repeal it given its positive impact on the nation’s economy.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.