A silicon solar wafer manufacturer said it plans to build a 10 GW factory in the U.S.

CubicPV said it started facility design work, engaged with a construction management firm, and is in advanced discussions to site the facility.

The company said it expects to finalize a site choice during the first quarter, and begin construction soon after. Construction is anticipated to be completed in 2024 with the factory coming online in 2025.

CubicPV CEO Frank van Mierlo credited the Inflation Reduction Act and its incentives for domestic manufacturing for creating a “titanic shift in the global solar landscape.”

“We’re excited to have a role in the U.S. manufacturing renaissance while accelerating our business plan and supporting the development of our next generation tandem module technology,” Mierlo added.

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CubicPV is addressing a critical component of the solar value chain. Currently, no high-volume silicon wafer production exists in the U.S.

The planned facility is expected to create 1,500 new direct jobs with a goal of meeting the anticipated surge in demand for American-made wafers.

CubicPV also intends to accelerate research and development activities specific to its silicon perovskite tandem module development. The company raised $26 million in Series B financing from Synergy Capital and SCG Cleanergy, as well Bill Gates’ Breakthrough Energy Ventures and Hunt Energy Enterprises, to support the effort.

Perovskite refers to a crystalline structure, and has emerged in the last decade as a means to efficiently capture sunlight and convert it to electricity. Research into perovskite solar cells has been focused to a large degree on how to increase their stability.