MK sports East China's Jiangsu Province deliver reliable green energy on August 15, 2024. According to data from the National Energy Administration, as of July, China's installed renewable energy power generation capacity reached 1.65 billion kilowatts, up 25 percent year-on-year. Photo: VCG" src="https://www.globaltimes.cn/Portals/0/attachment/2024/2024-08-15/f8ba5c5e-b670-4586-aacc-3be337b6004c.jpeg" />

Wind turbines and photovoltaic panels in Yancheng, East China's Jiangsu Province deliver reliable green energy on August 15, 2024. According to data from the National Energy Administration, as of July, China's installed renewable energy power generation capacity reached 1.65 billion kilowatts, up 25 percent year-on-year. Photo: VCG

China-based solar panel manufacturer Jinko Solar Co's plant in the US state of Florida has secured tax credits under the US Inflation Reduction Act (IRA), despite the ongoing crackdown on the Chinese photovoltaic (PV) industry by Washington in recent years, according to media reports on Tuesday.

The company announced this during a recent post-earnings conference call. It's the first time a Chinese PV firm has received incentives for clean energy projects in the US, according to financial news site cls.cn.

Jinko Solar's Florida facility has an annual module production capacity of 400 megawatts, with expansion plans that will increase its capacity by 1 gigawatt.

The US needs a sufficient supply of solar modules to fulfill its climate change commitments, and producing them domestically would be highly beneficial, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Tuesday.

China has built the world's largest and most comprehensive new-energy industry chain, so it's reasonable for Chinese companies like Jinko Solar to seize this market opportunity, Zhou said.

"We hope this approach won't be hindered by certain ill-intentioned US politicians, and that they will refrain from viewing Chinese investors through a biased lens," Zhou said, noting that cooperation between Chinese and American companies can lead to mutual growth, which is also crucial for the US in promoting its energy transition.

Chinese solar producers have expanded their presence to more than 100 countries and regions worldwide. The nation has supplied 70 percent of the world's solar modules and 60 percent of its wind power equipment, playing a crucial role in driving the global energy transition and supporting green, low-carbon and sustainable development, according to media reports.

Global Times