The U.S. Department of Energy's Loan Program Office engaged our team at S&P Global Energy Transition as an independent market advisor to support the financing of Qcells USA Corp.'s planned vertically integrated solar manufacturing facility in Georgia. The facility represents one of the most significant investments in domestic solar manufacturing capacity in the country's history, spanning the full value chain from polysilicon to finished modules.

Our team conducted a comprehensive due diligence review leveraging proprietary clean energy technology data and market intelligence. This included assessing demand trajectories for solar across key end markets, evaluating supply chain dynamics for critical inputs, and benchmarking Qcells' cost structure against industry peers through 2050. We also reviewed the facility's contractual arrangements, business plan assumptions, and the evolving regulatory environment to identify material risks and opportunities for the project.

The resulting insights provided the independent market perspective needed to support lender confidence through the financing process. Our analysis contributed to the successful development of a major new U.S. solar manufacturing hub at a pivotal moment for domestic clean energy industrial policy.