Qcells Investments Boost Georgia’s Clean Energy Economy

New economic data shows how expanded clean energy manufacturing operations brings strong local and state economy benefits

ATLANTA - May 22, 2024 - Qcells, a trusted provider of complete clean energy solutions and a leader in the residential, commercial and utility solar market segments, released new data today showing how its historic investments in solar manufacturing are driving massive economic benefits to Georgia.

According to a Chmura JobsEQ Q4 2023 report, provided by the Cartersville-Bartow County Department of Economic Development, Qcells' manufacturing operations in Georgia generate the following potential economic impact annually:
• Estimated Direct Jobs in Bartow and Whitfield Counties: 3,800 jobs.
• Estimated Total Employment (direct, indirect and induced jobs) in Bartow and Whitfield Counties: 6,755 jobs.
• Total potential sales/output created in Bartow and Whitfield Counties: $2,091,896,919 (i.e., more than $2 billion).
The Chmura JobsEQ sales/output estimate is based on the annual direct, indirect and induced sales generated when new employees become active in the local economy. ‘Indirect' refers to the jobs created by regional companies supplying goods and services for Qcells' expansion and new facility. Further, the report defines ‘induced' as the jobs created, and sales generated when new employees increase business at local establishments.
These substantial numbers underscore Qcells' growing footprint in the state of Georgia and strong commitment to U.S. manufacturing. The employment jump and boost in sales were made possible by Qcells' ambitious $2.5 billion investment in Georgia manufacturing, announced in January 2023, to expand its operations in Dalton and to build a fully integrated solar supply chain to include Cartersville.
Qcells completed its Dalton factory expansion in October 2023 creating 510 additional clean energy jobs, and just this past month, kicked off solar panel manufacturing at its facility under construction in Cartersville. Once the Cartersville facility is completed, at the end of 2024, Qcells will have launched a full silicon-based solar supply chain with ingot, wafer, cell and finished panel production.
In the state of Georgia alone, Qcells' full annual solar production capacity is anticipated to reach 8.4 GW annually, nearly 46,000 panels per day, which is enough solar to power nearly 1.3 million homes a year.
Beyond Georgia, Qcells is onshoring manufacturing by investing in the full solar supply chain. Specifically, Hanwha Solutions, Qcells' parent company, invested in REC Silicon to help reopen its Moses Lake, Washington, factory and restart polysilicon production. Ultimately, Qcells' Cartersville facility will take 100% of the polysilicon produced in Moses Lake to produce American-made solar panels. Resuming production at Moses Lake will bring around 270 people back to work in solar manufacturing.
Additionally, Qcells will receive encapsulant film ethyl vinyl acetate (EVA), from Hanwha Advanced Materials Georgia (HAGA), co-located in Cartersville and the only company manufacturing EVA at scale in the U.S. The jobs created from this investment will result in around 160 people working in solar manufacturing.
From investing in Northern Georgia to reviving a once dormant Washington state factory, as the data estimates, Qcells' efforts to onshore the solar manufacturing industry are far reaching.
"From our third Dalton expansion in the last four years to the launch of panel production in Cartersville, it is gratifying to see our $2.5 billion investment in Georgia impacting the local communities in a meaningful way as the region becomes part of Qcells' U.S. solar manufacturing supply chain. Not only is the Georgia workforce helping to accelerate the country's transition to clean energy, it's benefitting from good paying jobs and adding to the vibrancy of the local economy," said Danny O'Brien, Qcells' President of Corporate Affairs. "Last week, the Biden Administration announced actions that signal support for domestic solar manufacturers facing challenging market conditions. We welcome the Biden Administration's leadership as it is clear policymakers understand the importance of this industry and recognize strong trade and industrial policies are critical to the long-term success of vital factories like ours. We look forward to continued work with federal officials and Governor Kemp in advancing the U.S. clean energy economy."

"I am pleased that Qcells has reached this milestone as it follows through on its commitment to build a fully American solar manufacturing supply chain by investing billions of dollars right here in Georgia. American solar manufacturing is at a crucial turning point and scaling rapidly as a result of my Solar Energy Manufacturing for America Act. Yet as the United States scales up, China is doing everything it can to undermine our energy independence and American manufacturing of advanced energy technology. In response to my recent call to action, the Biden Administration has taken positive initial steps to strengthen trade enforcement against China's attempts to destroy U.S. solar manufacturing, but China remains a serious threat to made-in-America solar energy," said U.S. Sen. Jon Ossoff.

"Qcells made history with their landmark multi-billion dollar investment in Georgia's clean energy economy. With solar energy production growing across our state, Georgia is continuing to reap the benefits of the Bipartisan Infrastructure Law and the Inflation Reduction Act," said U.S. Senator Rev. Raphael Warnock. "I am aggressively fighting attempts by our foreign competitors to dominate the solar market, and I am proud to support efforts to ensure Georgia is on the cutting edge of the solar market. I look forward to continuing to partner with Qcells as Georgia becomes the premier destination for America's clean energy manufacturers."

"Georgia is proud to congratulate QCells on this milestone and looks forward to the full completion of this expansion that will employ thousands," said Gov. Brian Kemp. "As the No. 1 state for business, our talented workforce, reliable infrastructure, and award-winning state and local economic development teams create an environment where innovative companies like QCells can thrive. That's why they chose Georgia in 2019 and have continued to expand afterward."

"The start of solar panel production at Qcells' Cartersville plant is a win for our state, and a step toward establishing a U.S. made solar supply chain to reduce our reliance on overseas-made products. I'm proud that Q-cells is continuing to invest and expand in Georgia, and look forward to the Cartersville plant being a great source of jobs in our state," said Rep. Barry Loudermilk.

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About Qcells
Qcells is one of the world's leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Qcells also provides renewable electricity retail services and packages to end customers across the world. The company is headquartered in Seoul, South Korea (Global Executive HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, and South Korea. Qcells offers Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning North America, Europe, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: https://qcells.com/us/.

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