6/6, 4:01 PM (Source: TeleTrader)
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Biden to invoke DPA to push solar panel making - WH

The White House announced on Monday that United States President Joe Biden will be authorizing "the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies, including solar panel parts." The act will also cover building insulation, heat pumps, and critical power grid infrastructure.

"Today’s clean energy technologies are a critical part of the arsenal we must harness to lower energy costs for families," the statement read. White House underscored that the country is on "track to triple domestic solar manufacturing capacity by 2024."

The build-up of domestic solar manufacturing capacity will grow from 7.5 gigawatts to 22.5 gigawatts by the end of Biden's term. The White House confirmed that the US will allow a two-year exemption on solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam.

Baha Breaking News (BBN) / AY