Tax credits clarified for solar energy companies

The Biden administration is adjusting the “made in America” requirements for solar energy projects. The so-called Inflation Reduction Act signed by President Biden offers billions of dollars in tax credits for solar developers that use American equipment. Now, the Treasury Department says that companies can claim a new subsidy for facilities built with American-made products even if the system’s solar panels contain cells made entirely with Chinese materials. The solar industry welcomes the news, while U-S manufacturers have said that requiring solar cells to be made in America was key to producing goods that today are almost exclusively made in China.