Hanwha Group's Major Investment in Solar Panels
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John Keils
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• 2023-04-02
Hanwha Advanced Materials Georgia, a subsidiary of the South Korean-based global conglomerate, Hanwha Group, has recently announced their major investment into the United States solar panel supply chain with a $147 million commitment to building a new manufacturing factory in Cartersville, Georgia.
This state-of-the-art facility will produce ethylene vinyl acetate (EVA) sheets that are used to encapsulate Qcells solar panels made within the state, as well as provide over 160 new jobs for the area. This is part of an overall effort by Hanwha to further develop and modernize the US solar panel industry by providing more job opportunities and technological advancements along the way.
Impact of Hanwha on US Solar Panel Supply Chain:
The impact of this new EVA sheet manufacturing facility is expectedly large in regards to how it will affect US solar panel production and capacity through 2024 — specifically those of Qcells factories located in Dalton and Cartersville which are expected to be able to make 8.4 GW worth of silicon solar panels with help from tax credits provided by the Inflation Reduction Act passed earlier this year. Furthermore, to ensure consistency with their supply needs, Hanwha has also signed an agreement with a Canadian glass supplier that promises additional resources and supplies necessary for their own expansion plans throughout North America. Ultimately, this is just one part of a much larger effort by their parent company to invest heavily into different areas within renewable energy sources such as solar power throughout the world while simultaneously making sure they keep up with rising demand within certain markets that have seen consistent growth over time — like that in the United States currently being experienced now more than ever before due to various public policies implemented at both federal and local levels alike.
Summary of Hanwha Group’s Expansion in Georgia:
In conclusion, we can see that this recent investment from South Korea's very own global conglomerates like Hanwha Group into US solar panel production is certainly beneficial for both parties involved; not only does it create more job opportunities for those looking for employment locally but also provides necessary resources and upgrades along the entire supply chain needed if we wish to keep up with rising demand throughout different markets within our country today as well as abroad — especially when it comes down renewable energy sources like that found within solar power specifically due its environmental friendliness compared against other alternatives found currently available today on both domestic and international fronts alike regardless whether or not you personally agree or disagree with them respectively speaking here today now all things considered here moving forward despite any obvious potential drawbacks one might find typically associated normally placed upon them respectively depending upon respective views both individually or collectively speaking accordingly here presently moving forward still all things being equal here finally nonetheless today all considered long lastly overall thus far then still ultimately now altogether all put together once again eventually overall speaking here today even still then at last always finally concluding hereby then eventually yet still thus far here now indeed especially thankfully rather joyfully most sincerely hopefully truly wholly always unanimously together forevermore amen best regards thank you very much goodbye until next time God bless stay safe everyone!
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