Siemens to make solar energy equipment for US market in Wisconsin
15/08/2023 14:00
Aug 15 (Reuters) - German conglomerate Siemens
SIEGn.DE said on Tuesday it will start producing solar energy
equipment in the United States in 2024 through a contract
manufacturer in Wisconsin.
The announcement marks a move by one of the world's largest
manufacturers to capitalize on incentives in President Joe
Biden's year-old landmark climate change law to boost
American-made supplies of solar energy components and compete
with China.
Siemens will produce solar string inverters, devices that
convert energy generated from solar panels into usable current,
for the U.S. utility-scale market, it said in a statement. The
products will be made at a facility in Kenosha, Wisconsin,
operated by Sanmina SANM.O .
"Working with Sanmina to establish this new production line,
Siemens is well positioned to address supply challenges our
country is facing as we work to localize production for green
and renewable infrastructure," Brian Dula, vice president of
electrification and automation at Siemens Smart Infrastructure
USA, said in the statement.
The work for Siemens will create up to a dozen jobs at the
factory to start, the company said. Production will scale up to
a capacity of 800 megawatts of inverters per year.
The Inflation Reduction Act has unleashed $100 billion in
investment in the domestic solar sector in the last year,
including $20 billion for solar and storage manufacturing, the
top U.S. solar trade group said this week.
More than 50 solar manufacturing facilities have been
announced or expanded since the IRA passed, according to the
Solar Energy Industries Association study. That includes about 7
gigawatts of inverter capacity.
IRA tax credits incentivize both producers and buyers of
domestically made clean-energy equipment. For example, solar
projects that use American-made equipment, including inverters
and other components, can qualify for a bonus tax credit worth
10% of the project's cost.
(Reporting by Nichola Groom in Los Angeles
Editing by Matthew Lewis)
((nichola.groom@thomsonreuters.com;))