IRA-stimulated U.S. solar manufacturing capex to reach $12.2 billion by end 2026

U.S. companies are spending heavily to build solar panel factories at home. Since the Inflation Reduction Act passed in 2022, spending on solar panel manufacturing plants and equipment in the U.S. is on track to hit $12.2 billion by the end of 2026 — more than half of all the money spent on U.S. solar manufacturing since 2001. Spending has topped $2.5 billion every year since 2023, with a record $4.14 billion in 2024, led largely by First Solar (building factories in Alabama and Louisiana) and Qcells (investing in Georgia).

The buildout is spreading across the country. Ohio led panel production before the law passed, thanks to First Solar's plants there. Now Texas has become the new hub, with several companies making panels there. Other clusters are forming along the Gulf Coast (Louisiana and Florida) and across the Southeast (Georgia, Alabama, and the Carolinas).

For homeowners, this is a sign that more solar panels are being designed, built, and assembled domestically rather than imported. That matters because U.S.-made components can affect eligibility for certain tax credits and rebates tied to domestic manufacturing rules, and a stronger local supply chain could mean steadier availability and pricing for solar equipment down the line. The report itself is aimed at industry analysts, but the trend it tracks — more American factories making solar hardware — is part of the backdrop for anyone weighing a home solar installation in the next few years.