Meyer Burger Technology AG, an industrial producer of solar cells and modules, headquartered in Switzerland, is opening a high-performance solar cell manufacturing facility in Colorado Springs, Colo. With an preliminary capability of two GW of solar cells per 12 months, the brand new plant will completely provide Meyer Burger’s solar module manufacturing in Goodyear, Ariz., supporting the North American market.
The firm will convert a former semiconductor fabrication plant to function its solar manufacturing facility and has entered right into a long-term lease settlement. Production is deliberate to start within the fourth quarter of 2024 and can create greater than 350 direct jobs. The funding is supported by a tax credit score underneath the Inflation Reduction Act and associated measures, in addition to assist from the State of Colorado and the City of Colorado Springs.
By increasing its technique to “Made in USA” solar cells, Meyer Burger is responding to market necessities ensuing from new laws within the United States: Recently, the U.S. Treasury Department introduced pointers for the qualification of home content material. These laws permit a further 10% bonus funding tax credit score (ITC) for U.S. solar initiatives.
“Meyer Burger strongly believes that domestically manufactured solar cells will bring additional value to our customers, both in relation to using best-in-class high performance solar products ‘Made in USA’ and in terms of qualifying for additional tax credits,” says Gunter Erfurt, CEO of Meyer Burger.
With an preliminary focused manufacturing of two GW of solar cells and modules within the U.S., Meyer Burger is probably eligible for tax credit of as much as $1.4 billion from the beginning of manufacturing in 2024 till the tip of 2032.
As a part of Meyer Burger’s choice to find the solar cell facility within the U.S., Meyer Burger receives a considerable monetary package deal past the IRA tax incentives: The City of Colorado Springs and the State of Colorado are supporting the ability with virtually $90 million, primarily within the type of tax credit, direct assist and discounted electrical energy and water charges. In addition, prepayments from module offtake companions and a mortgage from the U.S. Department of Energy (DoE) of greater than $300 million are additionally anticipated to contribute to financing of Meyer Burger’s progress within the U.S.
The accelerated manufacturing schedule within the U.S. is made doable by redirecting manufacturing gear initially supposed for the beforehand introduced 2-GW solar cell enlargement on the Thalheim web site in Bitterfeld-Wolfen, Germany. This gear can be put in on the Colorado Springs facility to satisfy the deliberate completion date for the cell manufacturing facility in 2024.
