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.
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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.