AES Jointly Commits Over $6B For Solar Modules To Expand US Solar Supply Chain
It's time for US solar to shine.
AES, Clearway Energy Group, Cypress Creek Renewables, and D. E. Shaw Renewable Investments (DESRI) are forming a US Solar Buyers Consortium to drive the expansion of the domestic solar supply chain and support the growth of the American solar industry.
7 GW purchase of solar modules every year starting in 2024
Double US module capacity
Fully integrate US supply chain
Domestic solar ecosystem for manufacturing commodities and power plant components
Reaching scale of ever-expanding domestic solar industry’s needs
Challenge at hand: The future of the US solar industry is uncertain without action
The Auxin petition highlighted the United States’ dependence on other countries to deliver on the domestic solar pipeline, and the risks that come with it.
Respondents canceled or delayed module supply
Reported at least 50% of their solar and storage workforce was at risk
Utility-scale investment at risk
Known utility-scale solar pipeline disrupted
Lost deployment over the next 4 years if Auxin petition succeeded
Expected loss if Auxin tariffs imposed
364 million metric tons
Expected increase in CO2 emissions through 2035
Source: Solar Energy Industry Association (SEIA) “Impact of the Auxin Solar Tariff Petition.” April 26, 2022.
*This petition is no longer a pressing threat. In June 2022, the executive authority was used to preserve existing trade policy and prevent any new tariffs on solar panel components from being implemented for the next two years.
The US is undergoing a historic clean energy transformation. Without action, a clean energy future is uncertain.
5X increase in solar growth
Achieving 100% clean electricity by 2035 requires the annual deployment of more than 130 GW of solar, a 5X increase from the 24 GW added in 2021
America’s net-zero transition represents a $300B investment opportunity in renewables
1.5 million people
Solar energy has the potential to employ as many as 1.5 million people by 2035
Through the investments by the consortium, we’re helping to ensure that every corporation and customer across the US meet their clean energy goals on time.
What this means for AES customers – and all businesses going solar.
AES is the #1 renewable energy partner to corporations globally according to the 2022 report by BloombergNEF.
3.4 GW of new projects coming online in 2022 through 2025.
59 GW development pipeline, of which 68% is in the United States.
Reliability of supply for everyone, including companies where AES isn’t directly supplying clean energy.
Our consortium is looking for manufacturers that are aligned with the consortium’s goals and can supply up to 7 GW of solar modules per year starting in 2024.
If this describes you, connect with us here. Learn more.