US to expand in-house solar panels production

First Solar will invest $1.2bn in a new factory in the United States. With this move, the big solar panel manufacturer will increase to four the number of its plants in America. President Joe Biden signed the energy and climate bill earlier this month. This law authorises hundreds of billions of dollars in federal tax credits, grants and loans in an effort to encourage companies and individuals to switch to renewable energy and electric cars, thereby fighting climate change. Green energy businesses, such as First Solar, greatly benefit from this bill.

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