Biden Climate Law Spurs at Least $16.2 Billion of Cleantech (1)

Three months after President Joe Biden signed a sweeping climate law, several cleantech companies have moved forward with new US manufacturing factories that will cost at least $16.2 billion, according to data compiled by Bloomberg.

The latest: First Solar Inc. and Italian utility giant Enel SpA. First Solar, the largest US panel maker, said Wednesday that it plans to build a $1.1 billion factory in Alabama. Enel, a major clean-power developer, said Thursday that it also expects to build a US plant.

The Inflation Reduction Act offers generous incentives to support new domestic solar, battery and electric-vehicle factories. Some ...