Silver paste accounts for up to 23% of the material cost of a PV cell.
Precious metals miner Sun Silver has applied to the US Department of Energy (DoE) for a $60-million investment tax credit for expenditure towards establishing a silver paste production facility in Nevada.
The ASX-listed company, which is developing the Maverick Springs silver project in Elko county, is proposing a silver paste facility to supply solar PV cell manufacturers in the US.
The facility is expected to be built in Census Tract 9502, near the Maverick Springs silver deposit.
Sun Silver has submitted a Section 48C application. The federal incentive programme provides a 30% investment tax credit (ITC) for qualified expenditures on advanced energy manufacturing facilities. It aims to strengthen domestic supply chains, enhance US competitiveness in the global clean energy economy, and foster job growth in related industries.
Silver Sun believes its silver paste project aligns with these objectives, with the potential to enhance the efficiency and sustainability of solar PV cells. Silver paste accounts for up to 23% of the material cost of a PV cell.
Last month, US President Joe Biden approved an increase in tariffs on Chinese solar imports from 25% to 50% to encourage further onshoring of manufacturing.
Silver Sun notes that Section 48C is just one of several funding and grant avenues available from the DoE. The company, in collaboration with expert partner Holland & Knight, continues to actively explore additional grant opportunities available within the department.