Hanwha Solutions, a Korean firm that owns clear vitality options supplier Qcells, has obtained a $320 million funding plan for photo voltaic manufacturing growth in the USA and Korea with the goal of offering safe, cleaner vitality amid mounting requires vitality safety and net-zero emissions.
Hanwha mentioned it would search to spend $170 million constructing a 1.4 GW photo voltaic 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 return on-line as early as the primary half of 2023, Qcells’ whole manufacturing capability within the U.S. will exceed 3 GW – equal to one-third of present U.S. photo voltaic 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 yr, general cell capability in Korea will probably be 5.4 GW. It’s the first funding in Korean photo voltaic cell manufacturing in 5 years.
The investments goal to deal with rising demand for renewable vitality, as ongoing vitality market turbulence has despatched fossil gas costs hovering. Already worsened by a worldwide provide squeeze in the course of the pandemic, these value fluctuations have prompted calls around the globe to cut back fossil gas dependence aiming for vitality safety and carbon discount.
“Rising uncertainties inform us that securing dependable, sustainable vitality has turn out to be extra necessary 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 vitality. That method, we are going to contribute to each vitality safety and net-zero emissions.”
To enhance and additional decarbonize its photo voltaic panel manufacturing course of, Hanwha Options will safe low-carbon polysilicon from producers around the globe. 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 subsequent 10 years.
Different sources are offering low-carbon polysilicon to Hanwha as nicely. In March, the corporate turned the biggest shareholder of REC Silicon, the Norway-headquartered polysilicon producer, which operates huge manufacturing amenities 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 vitality costs in Europe, the corporate additionally got here up with options to decrease heating payments. Qcells is working with Samsung Electronics to introduce a sensible heating system with the goal of hitting the market in June. Combing Qcells’ photo voltaic panels and vitality storage system with Samsung’s Eco Heating System, it would decrease heating payments for households in Europe.
Hanwha Options’ choice to increase the Qcells’ module manufacturing facility within the U.S. comes as part of its effort to assist rebuild the home US photo voltaic provide chain. It can create good-paying job alternatives for generations to return. 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 photo voltaic manufacturing, Hanwha will additional increase investments within the U.S., together with wafers and cells. This requires implementing a “whole-of-government” method, together with good 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 photo voltaic worth chain,” provides Lee. “With our relentless efforts to supply dependable, sustainable vitality, we are going to do our utmost to solidify Qcells because the reliable selection for the U.S. photo voltaic market.”