Adani Group Chairman Gautam Adani said this week the Group will invest $10 billion in US energy security and infrastructure projects, creating up to 15,000 jobs in America.
While specific areas of investment are not yet announced, solar manufacturing looks a probable area of investment given USA is the world’s second-largest solar consumer after China and the nation has prioritized domestic manufacturing with the introduction of policies like the Inflation Reduction Act (IRA).
The US Inflation Reduction Act sets forth demand and supply-side incentives to encourage solar manufacturing within the United States in the form of production tax credits for manufacturers and investment tax credits for project developers using domestic content. These incentives have driven investments from global PV component manufacturers including some Indian players like Waaree Energies, Navitas and Premier Energies.
With a strong industrial policy like Inflation Reduction Act building out domestic solar manufacturing, bringing jobs to the U.S., and increasing clean energy capacity, analysts believe the newly elected Trump administration is unlikely to repeal it given its positive impact on the nation’s economy.
