A signature Biden law aimed to boost renewable energy. It also helped a solar company reap billions

One of President Joe Biden’s signature laws aimed to invigorate renewable energy manufacturing in the U.S. It will also help a solar panel company reap billions of dollars. Arizona-based First Solar is one of the biggest early winners from the Democrats’ Inflation Reduction Act, offering a textbook case of how the inside influence game works in Washington. Company officials and major investors donated $2 million to Democrats in 2020, including $1.5 million to Biden. They also spent $2.8 million lobbying. The company’s profits have soared since then, thanks to new federal subsidies worth as much as $10 billion over a decade. A First Solar spokesman says the subsidies will create new jobs and boost the economy.