SPI’s Solar4America Showcases its American-Made 550W(M10) Solar Modules in a Ground Mount C&I Project in Ohio
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced a new 948 KW ground mount solar project in Euclid, Ohio, utilizing its American-made 550W (M10) solar modules. This initiative aims for completion by June 2024 and indicates a growing demand for domestic solar solutions in the commercial sector. The company's manufacturing facility in California currently produces 700MW, with plans to ramp up to 2.4GW in 2023. SPI's Solar4America is the first to offer these high-efficiency modules for commercial applications, benefiting from incentives from the Inflation Reduction Act.
- New 948 KW solar project in Ohio expected to enhance market presence.
- First American manufacturer of 550W solar modules for commercial use.
- California facility's production capacity expected to ramp up to 2.4GW in 2023.
- None.
MCCLELLAN PARK, CA / ACCESSWIRE / March 6, 2023 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, is pleased to announce a 948 KW ground mount system project for a commercial customer in Euclid, Ohio, showcasing Solar4America's American-made 550W (M10) modules. The project is expected to be completed by June 2024. Solar4America is the first manufacturer to produce American-made 550W modules for the commercial and industrial (C&I) market.
"We are very excited to see that more and more C&I customers have shown great interests in our American-made 550W solar modules for their projects, and we are proud to be the first domestic manufacturer to offer the 550W(M10) product in the US," said Denton Peng, Chairman of Solar4America. "We are pleased to work closely with our C&I customers to get the full benefits that the Inflation Reduction Act offers for using American-made modules. With higher power and a more efficient installation process, the 550W modules are ideal for C&I applications. We are very much looking forward to providing our customers with high-quality American-made products backed by local warranty, insurance, and superior customer service."
The Solar4America module manufacturing facility in California now produces 700MW with capacity ramping up to 2.4GW in 2023.
Currently Solar4America has production capacities for 2023 on an array of modules including 330W/60 cells and 410W/72cells, 410W/108 half cut cells, all black panels for the residential market, and 410W/72 cells (silver) and 550W solar panels for C&I markets.
"Our California production facility will ensure that our customers receive high-quality, consistent, American-made products to meet growing market demand," said Denton Peng.
About SPI Energy
SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in McClellan Park, California.
The company has three core divisions: SolarJuice which has solar wholesale distribution, as well as residential solar and roofing installation and solar module manufacturing, SPI Solar and Orange Power which operates a commercial & utility solar division, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The SPI Solar commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple regions, including the U.S., U.K., and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric forklifts, and other EV products.
SPI maintains global operations in North America, Australia, Asia and Europe and is also targeting strategic investment opportunities in fast growing green energy industries such as battery storage, charging stations, and other EVs which leverage the Company's expertise and substantial solar cash flow.
For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.
Contact:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Dave Gentry
RedChip Companies, Inc.
Phone:(407) 491-4498
SPI@redchip.com
SOURCE: SPI Energy Co., Ltd.
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