Toledo Solar Announces Investment for U.S. Manufacturing Expansion

Toledo Solar to Quadruple Manufacturing Capacity in Response to Surging Demand.

PERRYSBURG, Ohio, Sept. 19, 2022 /PRNewswire/ -- Toledo Solar, a leading American manufacturer of PV solar panels, announced the company's domestic manufacturing expansion plans this week. Enhancing manufacturing capacity is part of the company's strategic initiative to expand its Perrysburg, Ohio, manufacturing facility to reach 2.8 Gigawatts of manufacturing capacity by 2027 in response to surging demand for solar products and in response to the passage of the Inflation Reduction Act.

The announcement comes just weeks after Congress passed the Inflation Reduction Act of 2022, which provides $430 billion of dollars in tax incentives to accelerate the country's renewable energy transition, including enabling 7.5 million more homeowners to install rooftop solar panels and providing incentives to generate 950 million solar panels by 2030. Notably, the ITC tax credit increased to 40 percent for solar panels manufactured in the U.S., a 10 percent increase from imported solar products. Toledo Solar is one of only two domestic solar manufacturers that empower the full use of this tax credit. Toledo Solar anticipates creating an additional 250+ jobs by 2027.

"We are excited to continue our commitment to investing in U.S. solar manufacturing right here in Ohio," said Aaron Bates, founder and CEO of Toledo Solar. "Now that Congress and President Biden have moved forward to protect American jobs by fighting the use of slave labor overseas with the enforcement of the Uyghur Act and the leveling of the playing field in solar with the passage of the Inflation Reduction Act, Toledo Solar is going to match that dedication by committing to our domestic expansion. We are grateful for the leadership of representatives Marcy Kaptur, Tim Ryan and Sherrod Brown, Secretary Jennifer Granholm, and the Biden-Harris administration for their efforts to advance the country's renewable energy capacity for generations."

Toledo Solar was also a partner in the team that recently won a proposal to establish a Cadmium Telluride Accelerator Consortium with a funding from a $20M program that was established by the U.S. Department of Energy's Solar Energy Technologies Office to hasten the development of cheaper, more efficient cadmium telluride (CdTe) solar cells.

"Thanks to the Inflation Reduction Act's smart investments in American-made solar, Ohio's energy industry is on the move. Toledo Solar represents the best of American energy innovation, and I will continue working to ensure we invest in production and good-paying jobs right here in Northwest Ohio," said Congresswoman Marcy Kaptur.

"Today is an exciting day for Ohio and the future of American energy production. I want to thank Toledo Solar for continuing to lead the way into the next generation of manufacturing, creating new good-paying jobs for Ohio workers, and lowering costs for working families," said Congressman Ryan. "Thanks to our Bipartisan Infrastructure Law and Inflation Reduction Act, we're creating an environment that positions our state to reap investments from businesses like Toledo Solar to ensure we are at the forefront of innovation happening in the United States and the rest of the world. I will continue to work to level the playing field for American businesses and stop countries like China from undermining domestic solar production with unfair competition and illegal practices." said Congressman Tim Ryan.

"The Wright Center for Photovoltaics Innovation and Commercialization at the University of Toledo looks forward to continuing to work with Toledo Solar to support their development through collaborative research efforts and by providing a creative and well-equipped workforce. The exciting expansion plans announced by Toledo Solar confirms our region's international leadership in solar energy," said the University of Toledo's Dr. Frank Calzonetti and Dr. Michael Heben in a joint statement.

To learn more, please visit Toledo-Solar.com or find Toledo Solar on social. LinkedIn @Toledo Solar Twitter: @Toledo_solar.

Toledo Solar is an American manufacturer of the world's most powerful, innovative, and durable solar panels and solar glass. The company manufactures 100% of its panels in its Toledo, Ohio factory, with a supply chain sourced exclusively from North America. The fully recyclable, stunningly efficient thin film solar panels produced by Toledo Solar are installed on American homes and businesses throughout the U.S. Headquartered in NW Ohio, Toledo Solar is a proud member of the U.S. Manufacturing of Advanced Cadmium Telluride Photovoltaics (US-MAC) Consortium, The Center for a Solar Power Future (SPF 2050 an NSF IUCRC), and The Cadmium Telluride Accelerator Consortium. Toledo Solar is dedicated to helping America and countries around the world achieve energy independence, resilience, and self-sufficiency. For more information, visit www.Toledo-Solar.com or find Toledo Solar on social. LinkedIn @Toledo Solar Twitter: @Toledo_solar.

Contact:
Sara Lambley
JMG Public Relations
212-206-1625
[email protected]

SOURCE Toledo Solar

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