A South Korean group will invest $2.5 billion in solar manufacturing in the U.S. state of Georgia, to take advantage of tax incentives under the recently passed Inflation Reduction Act. The facilities could provide nearly a fifth of U.S. solar demand. The legislation has “changed the economics of clean-energy investment,” The Wall Street Journal wrote
The legislation has changed the economics of clean-energy investment, and German carmakers are calling for a European equivalent to help them compete. The U.S.’s protectionist turn has surprised allies, according to The Economist: Subsidies reduce economic efficiency in the same way as tariffs. The White House hopes the boost to green tech will outweigh the costs.
