The decision by a Massachusetts solar company to abandon plans to build a $1.4 billion U.S. factory highlights the risks amid a flood of Chinese clean energy exports.

Less than a year ago, CubicPV, which manufactures components for solar panels, announced that it had secured more than $100 million in financing to build a $1.4 billion factory in the United States. The company planned to produce silicon wafers, a critical part of the technology that allows solar panels to turn sunlight into electrical energy.

The Massachusetts-based company called the investment a “direct result of the long-term industrial policy contained within the Inflation Reduction Act,” the 2022 law that directed billions of dollars to develop America’s domestic clean energy sectors. CubicPV was considering locations in Texas, where it would employ about 1,000 workers.

But a surge of cheap solar panels from China upended that project. In February, CubicPV canceled its plans to build the

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