New solar panel factory could cut installation costs to near zero for homeowners: 'Not just creating jobs'

One of the biggest clean energy manufacturing projects in North Carolina history has arrived.

Vietnamese solar panel maker Boviet Solar opened a factory in Greenville, its first American facility.

The grand opening of phase one of the factory was held in late April, about one year after the company announced it would be opening a factory there. The opening creates 460 new jobs for the area, with more than 900 coming with phase two.

Right now, North Carolina is one of the nation's top solar energy producers.

At the end of 2023, the state ranked fourth in solar generating capacity and fifth in solar power generation. This development creates jobs and also supports more than 100,000 clean energy positions across the state.

"This facility is not just creating jobs but creating opportunity, innovation, and a stronger foundation for eastern North Carolina," Sen. Kandie Smith said at the grand opening.

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The factory also offers neighbors greater access to solar energy. Without the added expense of international shipping, the price of solar panels will likely go down, adding to energy cost savings of nearly 100%.

Home solar is definitely having a moment right now, and 2025 could be the biggest year ever for the industry.

Congress is considering an early end to the residential solar tax credits under the Inflation Reduction Act, which could now end on Dec. 31 of this year instead of the planned end date of Dec. 31, 2034. Those credits often save buyers around $10,000.

Companies such as EnergySage, which provides a free service that makes it easy to compare quotes from vetted local installers and navigate those savings on a solar installation, will be able to offer even better deals with the improvements in home solar tech driving down the costs of older tech as well.