First Solar to make solar panels in India without China’s input
As per US energy secretary Jennifer Granholm, First Solar plans to invest “billions of dollars” in solar panel manufacturing in India, and they will not use components from China. Additionally, she revealed that Tesla is currently in discussions to make investments in India.
“India contributes the idea of scale, while the US offers its laboratories and the initiatives we are taking to encourage production. Together, they are able to accomplish their objectives “In an interview, Granholm mentioned support for the renewables industry from the US Development Finance Corporation. She was in the nation’s capital on Tuesday for the meeting of the India-US Strategic Clean Energy Partnership.
The secretary responded that Tesla is in discussions with the Indian government when questioned about the automaker’s ambitions to invest in India in light of the recent meeting between Prime Minister Narendra Modi and Elon Musk. Musk had previously stated that Tesla would be in India “as soon as humanly practical.”
After meeting with India’s oil and gas minister Hardeep Puri, Granholm stated, “The US considers India, and rightfully so, as the most critical partner in the clean energy transition.” India has invested a substantial sum in green hydrogen.
RK Singh, the minister of state for new and renewable energy, was also introduced by the US energy secretary.
India has committed funding, and the business sector is obviously paying attention, she said. “For instance, American company First Solar will spend billions on manufacturing solar panels in India that don’t require any components from China. In the US, they are undertaking a similar growth.”
Granholm elaborated on the principles underscoring the Strategic Clean Energy Partnership. “The pillar of a green strategic partnership – whether it is biofuels, green hydrogen, offshore wind, or grid or energy storage, the whole gamut of technologies – (is that) each country brings something, so we can learn from each other,” she said. “We launched something new mentioned in the leaders’ summit. We will bring our 17 national labs to partner with India on its own ambitions. We talked about this with Minister Puri.”
When Modi visited the US recently, both countries agreed to create special investment platforms. These platforms will help reduce the cost of money and attract private investments from all over the world. This will speed up the use of new clean energy, battery storage, and other green technologies in India.
According to the India-US joint declaration released at the summit, the US and India would work to create a groundbreaking, multi-billion dollar investment platform targeted at providing catalytic funding and derisking support for such projects.
Granholm said countries are focusing on homegrown solutions and creating strategic partnerships.
“Every country is seeing the effects of carbon pollution,” she said. “There is an urgency to accelerate clean energy, even if there is a focus on the traditional. Then there is the question of energy security – dependence on one supplier. Countries are seeing (what happens) when they rely too much on one country – on China for battery technology and solar technology, Russia for natural gas.”
The secretary said that nations are turning home and looking for partnerships to support their own energy security.
According to its website, First Solar, founded in 1999, is a prominent American solar technology firm and a global supplier of ethically made eco-efficient solar modules that advance the battle against climate change. It stands out among the top 10 solar producers since it is the only US-based business that does not get its products from China. The next generation of solar technologies, represented as First Solar’s superior thin film photovoltaic (PV) modules, offer a competitive, high-performance, lower-carbon substitute for traditional crystalline silicon PV panels.