Biden's Inflation Reduction Act Yields Windfall for Major Solar Company
First Solar capitalizes on federal subsidies, boosting profits and stock value amid climate change efforts.
- First Solar, a leading U.S. solar panel manufacturer, has seen its stock price double since the act's passage.
- The company benefited from up to $10 billion in federal subsidies aimed at promoting renewable energy.
- First Solar's executives and major investors, including Democratic donors, have reaped significant financial gains.
- Lobbying efforts and high-level meetings with administration officials were instrumental in shaping the legislation.
- The subsidies have sparked debate over the influence of campaign contributions on policy-making.