Current:Home > MyCompany plans $344 million Georgia factory to make recycled glass for solar panels-Angel Dreamer Wealth Society D1 Reviews & Insights
Company plans $344 million Georgia factory to make recycled glass for solar panels
View Date:2024-12-23 18:54:49
CEDARTOWN, Ga. (AP) — A company that recycles solar panels announced Thursday that it would build a $344 million factory in northwest Georgia, for the first time expanding to making new glass for panels.
Arizona-based Solarcycle said it would hire more than 600 workers in Cedartown, about 50 miles (80 kilometers) northwest of Atlanta, for a factory opening in 2026.
The company was founded in 2022 and opened its first facility in Odessa, Texas. Earlier this month, the company opened a headquarters and research lab in Mesa, Arizona, hiring more than 100 people.
Solarcycle says it can extract materials worth 95% of a solar panel’s value, including silver, silicon, copper and aluminum. Solarcycle said would be able to make enough glass every year to manufacture solar panels that can produce 5 gigawatts of electricity. Solarcycle said it would sell the glass to companies that make solar panels in the United States.
Last week, South Korean-owned Qcells, which makes solar panels in nearby Dalton, said it had contracted with Solarcycle to recycle decommissioned Qcells panels in the United States. Solarcycle said it has similar contracts with more than 40 other solar energy companies.
Solarcycle has raised tens of millions of dollars from private investors for expansion. It also received $1.5 million from the U.S. Department of Energy to fund research and development.
The company could qualify for $9 million in state income tax credits, at $3,000 per job over five years, as long as workers make at least $31,300 a year. The company will also receive property tax breaks from Cedartown and Polk County, said Chris Thomas, the president and CEO of the Development Authority of Polk County, but he did not provide an estimate.
Georgia Economic Development Commissioner Pat Wilson said the company approached state economic recruiters at a trade show.
“Solarcycle provides a critical piece to the integrated solar supply chain we are building in Georgia,” Wilson said in a statement.
Democratic U.S. Sen. Raphael Warnock credited President Joe Biden’s clean energy and healthcare law, the Inflation Reduction Act, with spurring Solarcycle’s investment, saying Georgians continue “to reap its benefits.”
veryGood! (968)
Related
- Trading wands for whisks, new Harry Potter cooking show brings mess and magic
- All Social Security retirees should do this by Nov. 20
- SNL's Chloe Fineman Says Rude Elon Musk Made Her Burst Into Tears as Show Host
- Stock market today: Asian shares mostly decline, shrugging off Wall Street’s overnight rally
- Monument erected in Tulsa for victims of 1921 Race Massacre
- New York eyes reviving congestion pricing toll before Trump takes office
- Kevin Costner says he hasn't watched John Dutton's fate on 'Yellowstone': 'Swear to God'
- Chris Pratt and Katherine Schwarzenegger welcome their first son together
- When do new episodes of 'Cobra Kai' Season 6 come out? Release date, cast, where to watch
- Judge set to rule on whether to scrap Trump’s conviction in hush money case
Ranking
- Who will save Florida athletics? Gators need fixing, and it doesn't stop at Billy Napier
- The Best Corduroy Pants Deals from J.Crew Outlet, Old Navy, Levi’s & More, Starting at $26
- Lou Donaldson, jazz saxophonist who blended many influences, dead at 98
- Karol G addresses backlash to '+57' lyric: 'I still have a lot to learn'
- Kraft Heinz stops serving school-designed Lunchables because of low demand
- Gavin Rossdale Makes Rare Public Appearance With Girlfriend Xhoana Xheneti
- Klay Thompson returns to Golden State in NBA Cup game. How to watch
- Voters in California city reject measure allowing noncitizens to vote in local races
Recommendation
-
Britney Spears Reunites With Son Jayden Federline After His Move to Hawaii
-
Police cruiser strikes and kills a bicyclist pulling a trailer in Vermont
-
Horoscopes Today, November 10, 2024
-
Kid Rock tells fellow Trump supporters 'most of our left-leaning friends are good people'
-
He failed as a service dog. But that didn't stop him from joining the police force
-
Indiana man is found guilty of murder in the 2017 killings of 2 teenage girls
-
Brittany Cartwright Defends Hooking Up With Jax Taylor's Friend Amid Their Divorce
-
Benny Blanco Reveals Selena Gomez's Rented Out Botanical Garden for Lavish Date Night