Like GlobalWafers’ $5 billion Texas project—which is benefitting from government support under the U.S. CHIPS and Science Act approved by Congress last year, an attraction for Sino-American in the U.S. solar business is government policy. The Inflation Reduction Act, also approved by Congress last year, includes new incentives for solar installations, Hsu predicted.
Hsu’s solar and silicon wafer businesses had a good year in 2022. Sino-American’s revenue rose by 18.9% to a record NT$81.9 billion, or about $2.7 billion. Of that, solar revenue gained 34.5% to NT$10.3 billion. GlobalWafers contributed nearly 90% to Sino-American's revenue, but solar grew faster. The close business relationship between the U.S. and Taiwan needs to be better recognized, Wylegala said. “I don't think it gets enough attention and credit for just how solid, mutually productive, and profitable it is,” he said. “It's a strong relationship in trade and investment, in technology and strategic partnering, and in the fundamental strengths that Taiwan offers in terms of economic freedom, the rule of law and vibrant democracy," he said.
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