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Highland Materials Secures $255.6 Million Tax Credit for Innovative Polysilicon Plant, Boosting U.S. Solar Production

Highland Materials has secured a US$255.6 million tax credit to build a polysilicon plant in the US. The company is among over 100 companies awarded tax credits from the US government under the Qualifying Advanced Energy Project Tax Credit (48C) scheme. The 48C scheme, established in 2009 under the American Recovery and Reinvestment Act, received an additional US$10 billion under the IRA. Highland Materials’ silicon purification technology allows the company to innovate at lower cost and carbon emissions than other manufacturers, using a proprietary technology that is more environmentally-friendly than current technologies. This move is seen as a significant milestone in the American solar production industry.

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