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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.
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