Stion Corporation to Immediately Accelerate 2nd Half 2014 and 2015 Solar Panel Manufacturing Capacity on News of Preliminary Tariffs on Chinese Manufacturers
Strategic expansion will help ensure cost competitive domestic panel supply in the wake of the recent import duty proposed by the U.S. Department of Commerce on Chinese manufactured solar equipment
SAN JOSE, Calif.–(BUSINESS WIRE)–Stion, a leading U.S.-based manufacturer of high-efficiency thin-film solar modules and provider of photovoltaic solar solutions, announced today that it will increase manufacturing capacity of its next generation Elevation™ Series CIGS solar modules for the second half of 2014, and continue to ramp up for increased 2015 demand precipitated by the news of the U.S. Department of Commerce’s preliminary tariffs on Chinese solar modules shipped to the U.S.
“We understand that this preliminary tariff will put a strain on the U.S. solar market as current major Chinese solar equipment supplier pricing increases from 18 to 35 percent, with the average Chinese supplier prices increasing by 27 percent”
Stion’s high-efficiency Elevation™ Series CIGS thin-film modules are designed in San Jose, California and manufactured in Hattiesburg, Mississippi, with distribution in the U.S. and internationally. Founded in June of 2006 in Menlo Park, California, Stion is dedicated to providing the highest efficiency solar modules that deliver industry leading energy yield (kWh/kW) using next generation CIGS technology and state of the art manufacturing. The company is a solar market leader in Levelized Cost of Energy (LCOE) and total energy production over the lifetime of the solar plant with virtually none of the power degradation experienced by other photovoltaic solar technologies.
The U.S. Commerce Department’s announcement last week came after a lengthy countervailing duty investigation (CVD) for solar products imported into the U.S. from China to address an existing loophole that enabled an unfair pricing advantage to foreign manufacturers. The decision will effectively raise prices on solar imports into the U.S. in the near term pending a final decision on August 18th, 2014. This “anti-dumping” tariff will significantly increase prices for developers utilizing Chinese-made products for solar installations in all major segments, Utility, Commercial and Residential. Many projects may subsequently be delayed or lose funding if Internal Rates of Return are adversely affected and the developers are unable to locate a cost-effective, non-Chinese-made technology alternative.
“We understand that this preliminary tariff will put a strain on the U.S. solar market as current major Chinese solar equipment supplier pricing increases from 18 to 35 percent, with the average Chinese supplier prices increasing by 27 percent,” stated Stion President and Chief Executive Officer Chet Farris. “Stion is committed to serving the U.S. market with the highest quality U.S. designed and U.S. manufactured solar technologies. We are ramping up our operations to meet the needs of our domestic customers in the near term and for the growing U.S. solar market over the years to come.”
Stion is a leading U.S.-based manufacturer of high-efficiency thin-film solar modules and provider of solar solutions. Stion was founded in 2006 and is backed by Khosla Ventures, the largest institutional investor in clean technology in the U.S. Stion is headquartered in San Jose, CA and opened its first high volume production facility in Hattiesburg, MS in 2012. For more information, visit www.stion.com.
Pete DeGraff, 415-531-2963
EVP, Sales and Marketing
Original Business Wire press release here.