Qcells to receive up to $1.45 billion in federal loan funding

Published 9:30 am Monday, August 12, 2024

CARTERSVILLE — Georgia U.S. Sen. Jon Ossoff said Qcells will receive up to $1.45 billion in federal loan funding through the U.S. Department of Energy’s Loan Programs Office to strengthen American solar manufacturing, boost energy independence in Georgia and reduce dependence on China.

The funding will support Qcells’ ongoing expansion and construction at its Cartersville plant, which the company announced after passage of Ossoff’s Solar Energy Manufacturing for America Act. Qcells aims to build the nation’s first complete solar supply chain, manufacturing strategic components of solar panels in Georgia instead of importing them.

“Our federal manufacturing incentives are driving economic development across the state of Georgia. I join all federal, state and local leaders in celebrating yet another historic federal investment in Georgia solar manufacturing to continue growing our economy and strengthening American energy independence,” Ossoff said. “I thank President Biden, Vice President Harris, Secretary Granholm and Loan Programs Office Director Shah for their continued collaboration as we lead Georgia forward.”

In 2021, Ossoff first introduced the Solar Energy Manufacturing for America Act, aimed at supercharging domestic solar manufacturing to create American jobs, strengthen energy independence and reduce U.S. dependence on China.

The legislation, which was passed into law within the Inflation Reduction Act, provides manufacturing incentives for production across the solar supply chain.

According to a recent study, since passage of the Inflation Reduction Act less than two years ago the federal manufacturing incentives are benefiting Georgia more than any other state, creating more than 30,000 Georgia jobs and attracting more than $23.8 billion in private investment across the state.

Editor’s note: Qcells has said its Dalton factory is the largest solar manufacturing plant of its kind in the Western Hemisphere. The company’s headquarters is in Seoul, South Korea.

Submitted by the office of Sen. Ossoff.