The U.S. Department of Energy has finalized its $1.45 billion loan to assist Qcells’ photovoltaic supply chain manufacturing facility located in Cartersville, Georgia. The Loan Programs Office (LPO) initially announced the funding in August.
The LPO offers funding for impactful, large-scale energy infrastructure projects across the United States. Qcells stands as the largest silicon photovoltaic panel manufacturer in the Western Hemisphere and is currently establishing a comprehensive solar panel production plant in Georgia. This site will generate silicon ingots, wafers, cells, and finished panels.
Qcells has pledged to invest $2.8 billion into the sector. Together with its other panel manufacturing facilities in Dalton, Georgia, Qcells will achieve 8.4 GW of annual panel output within the state.
“Since Qcells established its presence in Dalton, Georgia in 2019, the company has invested billions of dollars in creating a complete solar supply chain, resulting in thousands of American jobs, strides toward energy independence, and reduced energy costs,” Qcells stated in a statement. “The Department of Energy’s support emphasizes the significance of this vital industry and the collective actions required to ensure that American manufacturers can compete on a global level and experience enduring success.”
In addition to enhancing domestic solar manufacturing and fostering innovation to expedite the U.S. clean energy transition, Qcells’ investments are expected to generate approximately 4,000 American jobs. Furthermore, nearly 50% of the construction work has been allocated to local contractors, stimulating the regional economy. The finalized loan is accessible through LPO’s Title 17 Clean Energy Financing Program, which includes funding opportunities for innovative energy and supply chain initiatives as well as projects that reinvest in the existing energy infrastructure.
