Qcells President of Corporate Affairs Statement on Biden Administration's Latest Clean Energy Manufacturing Guidance

WASHINGTON, Dec. 14, 2023 /PRNewswire/ -- The U.S. Treasury Department today released guidance on the Inflation Reduction Act's (IRA) Section 45X Advanced Manufacturing Production Credit. Section 45X intends to incentivize domestic production of key clean energy components and equipment that are necessary to support the United States' transition to renewables. The release of this guidance represents the Biden administration's next phase in implementing the IRA and establishing a clean energy economy.

Danny O'Brien, President of Corporate Affairs at Qcells, released the following statement:

"The Inflation Reduction Act that President Biden signed into law just over a year ago is proving to be transformative in advancing solar energy manufacturing in the U.S. It is the IRA's landmark 45X tax credits, championed by Senators Jon Ossoff and Raphael Warnock, that enabled Qcells' historic, multi-billion investments in Georgia and other states. The guidance on the 45X production tax credit released today is another important step in promoting domestic solar manufacturing but long-term success is not guaranteed given the intense market challenges the industry is facing here in the U.S. As it did today, we hope the administration will continue to prioritize U.S. solar manufacturers by issuing future domestic content guidance that incentivizes the entire solar supply chain that Qcells is committed to building."

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SOURCE Hanwha Q CELLS America Inc.