July 17 (Reuters) – Construction of U.S. solar-manufacturing plants by Chinese companies is surging, putting China in position to dominate the nascent industry, as other American factories struggle to compete despite federal subsidies.
Chinese companies will have at least 20 gigawatts’ worth of annual solar panel production capacity on U.S. soil within the next year, enough to serve about half the U.S. market, according to a Reuters analysis of corporate statements, government documents, and interviews with eight companies and researchers.
The group includes seven purely Chinese-owned companies– Jinko Solar (JKS.N), opens new tab, Trina Solar (688599.SS), opens new tab, JA Solar (002459.SZ), opens new tab, Longi (601012.SS), opens new tab, Hounen, Runergy, and Boviet, according to the analysis.
The projected rapid increase in U.S. solar panel production by Chinese-owned companies has not previously been reported, and represents a worrying result for President Joe Biden’s climate agenda. While his administration is keen for new investment that creates U.S. jobs in clean energy, his government is also desperate to prevent over-reliance on geopolitical rival China as the economy transitions from oil and gas to renewables.
VIEW THE FULL ARTICLE WHERE IT FIRST APPEARED AT REUTERS:
