The Department of Energy’s Loan Programs Office (LPO) has made a conditional commitment for a $1.45 billion loan guarantee to Qcells.
The loan guarantee will support the company’s solar supply chain facility in Cartersville, Ga., which is slated to produce ingots, wafers, cells and finished solar panels.
Once fully operational, the facility is expected to produce 3.3 GW of solar panels annually.
Qcells’ other solar factory, opened in 2019, is located one hour north of the new facility site, in Dalton, Ga.
Projects like the one announced today will benefit from the Section 45 Advanced Manufacturing Production Tax Credit, also known as 45X, created by President Joe Biden’s Inflation Reduction Act.
The loan guarantee would be offered through LPO’s Title 17 Clean Energy Financing Program, which includes financing opportunities for innovative energy and supply chain projects and projects that reinvest in existing energy infrastructure.
