A refresher on Biden’s industrial energy policy that built a whole new manufacturing belt across the southeast and Midwest:
What’s in the Inflation Reduction Act of 2022 for US manufacturing?
An investment of $30 billion in production tax credits to accelerate domestic manufacturing of solar panels, wind turbines, batteries, and critical minerals processing.
A $10 billion investment tax credit to build clean technology manufacturing facilities, including those that make electric vehicles, wind turbines and solar panels
$500 million in the Defense Production Act for heat pumps and critical minerals processing
$2 billion in grants to retool existing auto manufacturing facilities to manufacture clean vehicles
Up to $20 billion in loans to build new clean vehicle manufacturing facilities across the United States
$2 billion for National Labs to accelerate breakthrough energy research
Tax credits across the solar supply chain
Manufacturing credit: 100% credit through 2029, 75% in 2030, 50% in 2031, 25% in 2032
Thin-film and crystalline silicon cells: $.04 per cell capacity in Wdc
Photovoltaic wafers: $12/m²
Solar-grade polysilicon: $3/kg
Polymeric backsheets: $0.04/m²
Solar modules: $0.07 per module capacity in Wdc
Torque tubes: $0.87/kg
Structural fasteners: $2.28/kg
Central inverters: $0.25 per capacity Wac
Commercial inverters: $0.015 per capacity Wac
Residential inverters: $0.06 per capacity Wac
Microinverters: $0.11 per capacity on Wac
Battery modules: $10 per battery module capacity kWh
Critical minerals: 10% of costs incurred
Battery cells: $35 per battery cell capacity kWh
“CNN political director David Challian provided analysis of the poll that showed 41% of Americans specifically called a Biden win a “disaster,” a slightly better figure than the 44% who said the same about former President Trump. However, another 26% of Americans viewed a Biden win as a “setback” while just 12% said the same about a Trump win.”
