Toledo Solar aims to expand PV panel production to 2.8 GW

Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

September 20 (Renewables Now) - US photovoltaic (PV) panels maker Toledo Solar on Monday unveiled plans to boost its manufacturing capacity at home to 2.8 GW by 2027, seeking to meet demand spurred by newly available tax credits under the Inflation Reduction Act.

The Ohio-based company produces cadmium telluride (CdTe) thin-film solar panels in Perrysburg, Ohio, supplying the US residential and commercial markets. According to the announcement, the expansion plan will quadruple the manufacturing capacity at the site.

Toledo Solar expects the initiative to create more than 250 jobs by 2027. According to recent media reports, it currently has 40 full-time employees and sales offices in California, New York, Connecticut, Michigan and several other states.

The Inflation Reduction Act of 2022 was passed by the US Congress in August. The landmark law aims to curb inflation, providing USD 430 billion in tax incentives to speed up the deployment of renewable power generation capacity. Solar Energy Industries Association (SEIA) and Wood Mackenzie envisage the solar PV additions in the US will rise by 40%, or 62 GW DC, over baseline projections through 2027 due to the new legislation, with cumulative solar installations anticipated to reach 336 GW by 2027, against 129 GW now.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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