6 clean energy companies that are ramping up US manufacturing

The Inflation Reduction Act provides billions of dollars in tax credits and loans, helping to spur investment in domestic production.

Written by Shel Evergreen. Published by Canary Media Sept. 21, 2022.

The Inflation Reduction Act dedicates a historic $369 billion to support energy and climate initiatives, such as expanding domestic manufacturing capacity. This includes an estimated $30 billion in production tax credits aimed at accelerating U.S. manufacturing of batteries, solar panels, wind turbines and other clean energy technologies — along with tens of billions more in the form of investment tax credits and loans.

Since the legislation passed in August, a number of companies have announced major initiatives to expand renewable energy manufacturing in the U.S. But how much of that is directly attributable to the Inflation Reduction Act?

It’s hard to point to most of these announcements and say definitively that they hinged on the major legislation package, Harry Godfrey, managing director at trade group Advanced Energy Economy, said. ​“Making a decision around building a new facility or even expanding a facility is not something that happens overnight.”

But, Godfrey added, there was pent-up demand in the renewable energy market, and the Inflation Reduction Act opened the floodgates. ​“It’s increasing the magnitude of dollars and investments going into advanced energy.” ,,,

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