Ontario-based Silfab Solar and national renewable energy provider Pivot Energy have entered a multi-year partnership to develop community solar projects across the U.S. Factor This recently reported that Silfab Solar will supply 350 megawatts of commercial PV modules to Pivot over the course of two years.
Silfab Solar is a photovoltaic (PV) module manufacturer that is opening a new production facility in South Carolina. According to Factor This, Silfab's South Carolina facility is expected to initially produce at least one gigawatt of American-made solar cells as well as 1.3 gigawatts of modules.
Per the agreement with Pivot Energy, Silfab will supply the renewable energy provider with its 580 XM+, the company's latest commercial module. Plans to roll out this new module are expected to begin later this year at the South Carolina facility.
"[Silfab] said that increased demand for its products recently prompted it to secure $100 million of new financing to scale solar cell operations within its nearly 800,000-square-foot South Carolina manufacturing plant," Factor This wrote.
Currently, Silfab operates a module production facility on the West Coast in Washington with a capacity of 1.1 gigawatts.
The recently announced partnership is exciting news for solar energy in the U.S. Currently, the solar energy market in the U.S. is the fastest-growing renewable energy source, per the U.S. Energy Information Administration.
As more companies bring solar energy to communities across the country, they not only help reduce the nation's negative environmental impact but also decrease the cost of energy in that area. In fact, EnergySage estimates that community solar can reduce your annual electricity costs by anywhere between 5% and 20%, depending on the project.
Currently, the majority of solar cell production takes place in China. However, the U.S. has the capability to expand its domestic production of solar cells.
"The U.S. has plenty of places that assemble solar modules, but domestic production of components that comprise them is extremely limited," wrote Factor This.
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The upfront cost 💰 As a result, the new multi-year agreement between Silfab and Pivot Energy is an opportunity to increase domestic solar module production.
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