Hanwha Solutions, a Korean firm that owns clear energy options supplier Qcells, has acquired a $320 million funding plan for {solar} manufacturing enlargement in america and Korea with the goal of offering safe, cleaner energy amid mounting requires energy safety and net-zero emissions.
Hanwha mentioned it would search to spend $170 million constructing a 1.4 GW {solar} module manufacturing facility within the U.S. Qcells already operates a 1.7 GW module manufacturing facility in Dalton, Ga. With the brand new manufacturing facility anticipated to come back on-line as early as the primary half of 2023, Qcells’ complete manufacturing capability within the U.S. will exceed 3 GW – equal to one-third of present U.S. {solar} module manufacturing capability.
The corporate additionally introduced its plan to increase cell manufacturing capability in Korea. By investing $150 million, the corporate will increase its cell manufacturing facility in there. When the manufacturing facility expansions are full subsequent 12 months, total cell capability in Korea will likely be 5.4 GW. It’s the first funding in Korean {solar} cell manufacturing in 5 years.
The investments goal to deal with rising demand for renewable energy, as ongoing energy market turbulence has despatched fossil gas costs hovering. Already worsened by a world provide squeeze in the course of the pandemic, these value fluctuations have prompted calls all over the world to scale back fossil gas dependence aiming for energy safety and carbon discount.
“Rising uncertainties inform us that securing dependable, sustainable energy has grow to be extra essential than ever earlier than,” states Justin Lee, CEO of Hanwha Qcells. “To do that, Qcells will enhance renewable provide from diversified sources and discover cleaner methods to supply energy. That method, we’ll contribute to each energy safety and net-zero emissions.”
To enhance and additional decarbonize its {solar} panel manufacturing course of, Hanwha Options will safe low-carbon polysilicon from producers all over the world. In April, the corporate agreed with Korean polysilicon producer OCI to obtain polysilicon made in factories utilizing carbon-free hydroelectricity. OCI will present Hanwha with “clear polysilicon” for the following 10 years.
Different sources are offering low-carbon polysilicon to Hanwha as nicely. In March, the corporate grew to become the most important shareholder of REC Silicon, the Norway-headquartered polysilicon producer, which operates large manufacturing services within the US. REC Silicon equally makes use of hydropower to make solar-grade polysilicon at its manufacturing facility in Moses Lake, Wash.
Confronted with hovering energy costs in Europe, the corporate additionally got here up with options to decrease heating payments. Qcells is working with Samsung Electronics to introduce a wise heating system with the goal of hitting the market in June. Combing Qcells’ {solar} panels and energy storage system with Samsung’s Eco Heating System, it would decrease heating payments for households in Europe.
Hanwha Options’ determination to increase the Qcells’ module manufacturing facility within the U.S. comes as part of its effort to assist rebuild the home US {solar} provide chain. It’ll create good-paying job alternatives for generations to come back. Already using roughly 750 workers at its module manufacturing facility within the U. S., Hanwha goals to additional increase the variety of native jobs with the opening of the brand new module manufacturing facility.
Upon the implementation of long-term, sturdy coverage designed to incentivize {solar} manufacturing, Hanwha will additional increase investments within the U.S., together with wafers and cells. This requires implementing a “whole-of-government” strategy, together with sensible commerce coverage, strengthened Purchase American guidelines, and particularly long-term home manufacturing tax laws.
“Guaranteeing coverage certainty is essential to realizing our purpose of rebuilding the US {solar} worth chain,” provides Lee. “With our relentless efforts to offer dependable, sustainable energy, we’ll do our utmost to solidify Qcells because the reliable alternative for the U.S. {solar} market.”
