Two PV leaders to invest in 5GW cell and 5GW module plants in the US
2024-06-17 17:46

Create Energy and Shoals Technologies Group and Recom Technologies announce the formation of ReCreate, a joint venture to build a 5GW photovoltaic cell and 5GW module manufacturing facility in Tennessee, U.S.A., to supply the North American and European markets.

The Inflation Reduction Act (IRA), introduced by the U.S. government in 2022, stimulated solar manufacturing in the U.S. by providing manufacturers with production tax credits and, at the same time, investment tax credits for project developers who use U.S.-based manufactured products. Wood Mackenzie expects announced module manufacturing capacity to be 144GW, cell manufacturing capacity to be 71GW, and wafer manufacturing capacity to be 61GW by 2027, while there is also currently an almost blank slate for wafer and cell manufacturing in the U.S., with only 26GW of module capacity.

Create Energy is a U.S.-based renewable energy company that specializes in transformer and switchgear manufacturing, photovoltaic, energy storage and EV solutions, and EPC turnkey services.

RECOM Technologies is a manufacturer of photovoltaic cells, modules, inverters, hybrid storage systems, batteries and electric vehicle (EV) chargers. The company combines R&D, manufacturing and distribution, with an annual capacity of more than 3.2GW and sales in more than 110 countries.

The companies said they hope to drive change in the energy sector by manufacturing PV products in the U.S., supporting the local economy and setting new industry standards.


Tags:cell , renewable energy