A company that recycles solar panels announced Thursday it will build a $344 million factory in northwestern Georgia and expand its operations to make new glass for panels for the first time.
Arizona-based SolarCycle said it will hire more than 600 workers in Cedartown, about 80 miles northwest of Atlanta, to open a factory in 2026.
The company was founded in 2022 and opened its first facility in Odessa, Texas. The company opened its headquarters and research lab in Mesa, Arizona, earlier this month, hiring more than 100 people.
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SolarCycle claims it can extract materials that represent 95% of a solar panel’s value, including silver, silicon, copper and aluminum. SolarCycle said it could produce enough glass each year to make solar panels capable of producing 5 gigawatts of electricity. SolarCycle announced that it will sell glass to companies that manufacture solar panels in the United States.
SolarCycle announced plans to build a $344 million factory in northwest Georgia. (Fox News)
Last week, Qcells, a Korean-owned solar panel manufacturer near Dalton, announced it had signed a deal with Solarcycle to recycle Qcells panels that have been retired in the United States. SolarCycle said it has similar agreements with more than 40 other solar energy companies.
SolarCycle has raised tens of millions of dollars from private investors to expand its business. It also received $1.5 million in research and development funding from the U.S. Department of Energy.
The company could qualify for a $9 million state income tax credit of $3,000 per job over five years if employees make at least $31,300 a year. Chris Thomas, president and CEO of the Polk County Development Authority, said the company could also receive property tax incentives from Cedar Town and Polk County, but he declined to provide an estimate.
Georgia Economic Development Commissioner Pat Wilson said the company approached state economic recruiters at the trade show.
“Solar Cycle provides a critical component to the integrated solar power supply chain we are building in Georgia,” Wilson said in a statement.
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Democratic Sen. Raphael Warnock credited President Joe Biden’s Clean Energy and Health Care Act, the Control Inflation Act, for spurring investment in solar cycles, and Georgians “continue to reap the benefits.” said.
