SEMA Coalition Applauds Final CHIPS ITC Rules

Announcement marks key development to boost American domestic production of semiconductors and semiconductor equipment manufacturing.

Washington, DC – Today, the U.S. Department of Treasury and the Internal Revenue Service released the final section 48D Advanced Manufacturing Investment Credit (CHIPS ITC) rules. The CHIPS ITC provides a 25 percent investment tax credit for domestic production of semiconductors and semiconductor equipment manufacturing. Mike Carr, Executive Director of the Solar Energy Manufacturers for America (SEMA) Coalition released the below statement following the announcement:

“The final 48D rules will help solar manufacturers unlock the full potential of the CHIPS and Science Act by providing critical support for efforts to reshore the entire solar supply chain. We applaud Treasury’s final CHIPS ITC rules, which clarify that domestic solar ingot and wafer manufacturers can access this landmark incentive. The Biden-Harris Administration's efforts will drive significant investment in domestic solar ingot and wafer manufacturing capacity, currently dominated by China, help meet our economic and national security goals, and support thousands of good-paying jobs across the country. 

“We appreciate the efforts that went into this significant rulemaking and look forward to continuing our work with the Biden-Harris Administration on leveraging other tools, such as the Inflation Reduction Act’s domestic content provisions, to support the reshoring of the full solar supply chain.”

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