The U.S. subsidiary of Chinese solar power company Yingli Green Energy has received a tax credit of $4.5 million from the Treasury Department, as part of its Recovery Act Advanced Manufacturing Tax Credit program — for more on that, see here. The company says it will use this fiscal incentive to finance construction of its first U.S. manufacturing plant.
The Chinese solar panel manufacturer has scoped sites in Phoenix and Austin to house its 100-megawatt manufacturing operation. The plant is expected to initially house 300 employees and cost between $20 million and $50 million to build.
The company expects to select a location in the following weeks and begin production later this year. Press reports say Phoenix has an edge over Austin.