US President Joe Biden's plan to kick-start domestic solar panel production depends on a federal fund with less than US$500 million that's already being tapped to pay for products including military drones and baby formula, reports Bloomberg.
That funding - even if fully dedicated to solar production - would only be enough to open a few factories capable of producing a fraction of the panels the US currently imports each year, say manufacturers.
'Even if they spent all of that on solar panels, it's a pittance,' said Nick Iacovella, a spokesman for the pro-manufacturing Coalition for a Prosperous America.
President Biden invoked sweeping powers of the Defence Production Act to propel US manufacturing of an array of energy technologies, including solar panels, fuel cells and heat pumps.
Said First Solar vice president Samantha Sloan: 'We have yet to see this administration put action behind word in supporting US solar manufacturing specifically. That causes some heartburn on where the priorities do lie.'
Bank of America described Biden's manufacturing move 'more as rhetoric,' in a research note. 'Feedback from various parties across the sector suggests it's not a silver bullet.'
Federal funding may not even be available for the president's new solar initiatives. That same pot also may be needed to address other supply shortages and national security needs. The administration is expected to seek additional funding from Congress.
SeaNews Turkey
That funding - even if fully dedicated to solar production - would only be enough to open a few factories capable of producing a fraction of the panels the US currently imports each year, say manufacturers.
'Even if they spent all of that on solar panels, it's a pittance,' said Nick Iacovella, a spokesman for the pro-manufacturing Coalition for a Prosperous America.
President Biden invoked sweeping powers of the Defence Production Act to propel US manufacturing of an array of energy technologies, including solar panels, fuel cells and heat pumps.
Said First Solar vice president Samantha Sloan: 'We have yet to see this administration put action behind word in supporting US solar manufacturing specifically. That causes some heartburn on where the priorities do lie.'
Bank of America described Biden's manufacturing move 'more as rhetoric,' in a research note. 'Feedback from various parties across the sector suggests it's not a silver bullet.'
Federal funding may not even be available for the president's new solar initiatives. That same pot also may be needed to address other supply shortages and national security needs. The administration is expected to seek additional funding from Congress.
SeaNews Turkey