15:55 | 11.06.2014
Stion Corporation to Immediately Accelerate 2nd Half 2014 and 2015 Solar Panel Manufacturing Capacity on News of Preliminary Tariffs on Chinese Manufacturers
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.
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.