Swiss PV manufacturer Meyer Burger has decided to discontinue solar module production in Freiberg, Germany, in a bid to reduce sustained losses in Europe. The company will instead focus on building up its production facilities in the United States. Sales activities in Europe will continue, with customers receiving full-product warranties for up to 30 years. Meyer Burger plans to seek shareholder approval for a rights issue of up to CHF 250 million to finance the completion of its U.S. manufacturing facilities in Colorado and Arizona. The goal is to close the funding gap of CHF 450 million with a combination of the rights issue, an export agency credit guarantee from the German government of upto $95 million, and either the “45X” advanced manufacturing production tax credit under the US Inflation Reduction Act, or a US Department of Energy loan.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
