The Treasury Department is clarifying what counts as being made in America. Saying on Friday, companies can claim tax credits even if their panels are entirely made in China.
Under the Inflation Reduction Act, companies can qualify for tax credits if 40 percent of the panels’ components are made in the U.S. That’s to boost domestic jobs in the face of China’s dominance in the sector.
The Treasury also offering an additional credit—up to 10 percent—for solar panels assembled in the U.S. Even if the cells and wafers are made in other countries, like China.