New Energy
More Solar Manufacturing Is Coming to the US Thanks to Climate Law
- Company plans to open as many as six manufacturing lines
- Inflation Reduction Act includes big funding for clean energy
After years of depending on Chinese firms for much of its clean energy supply, the US may be on the verge of a cleantech-manufacturing boom.
Photographer: Joe Buglewicz/BloombergThis article is for subscribers only.
Enphase Energy Inc. surged the most in three months after the solar-energy manufacturer beat forecast expectations and announced plans to expand in the US following the passage of the country’s landmark clean energy law.
The Fremont, California-based company said it would open four to six manufacturing lines in the US. It also forecast fourth-quarter revenue of $680 million to $720 million, above the average estimate of $664.3 million. Shares rose as much as 14%.