China’s leading renewables firms are joining the rush to open factories in the U.S. after Washington passed a landmark climate bill that supports local clean energy manufacturing.
Some of the nation’s top solar panel makers are involved in setting up American plants, while the Chinese company that makes the world’s largest wind turbine, Ming Yang Smart Energy Group Ltd., is exploring whether to establish production and research facilities there.
The building boom underscores how the U.S. has rebuilt its credentials as a clean-tech manufacturing hub after last year’s Inflation Reduction Act. The bill, a signature achievement for the Biden administration, includes $374 billion in new climate-related spending. That’s drawn the attention of China’s world-leading renewables industry despite deepening tensions between the two governments.