Are you concerned about your energy bills and looking for top solar panel manufacturers in US?
We are entering the most advanced world with chaos and uncertainties. Climate change and rising energy bills have become a major concern for many US citizens. Renewable energy sources are the best alternative to reducing that financial burden. However, not all the renewable sources are easy to install.
Windmills need to be installed at specific heights. Biofuel production needs a huge investment. But if you own a house with an open roof, then you have the opportunity to save thousands and might earn money with solar panel installation.
This blog will provide you with a comprehensive list of the top solar panel manufacturers in US.
The US Solar Energy Market at a Glance
In 2023, the US solar industry installed a record 33 GWdc (26 GWac) of capacity. This was a 46% increase over 2022.
The market is driven by several factors. Declining solar PV costs are a major driver. Government incentives also play a crucial role. Moreover, environmental concerns are pushing the shift towards renewable energy.
The market is segmented into residential, commercial, and utility-scale. Each segment has seen significant growth. For instance, residential solar grew 12%, adding 6.8 GWdc of capacity in 2023.
SEIA data shows nearly 5 million US homes had solar panels by 2023, reaching 3.3% of all households (5.3% for single-family homes). Hawaii leads with 35% solar penetration in single-family homes, followed by California (23%) and Arizona (14%).
These numbers display a glimpse of how solar panel manufacturers in US are acquiring the potential market.
7 Solar Panel manufacturers in US
Out of fierce competition, we are listing 7 solar panel manufacturers in US who are dedicated to reducing dependence on fossil fuels. Let’s begin with the list:
- First Solar, Inc.
- Mission Solar Energy LLC
- SunPower Corporation
- Global Solar Energy, Inc.
- Maxeon Solar Technologies
- Heliene Solar Panels
- Tesla Energy Solutions
1. First Solar, Inc.
- HQ: Tempe, Arizona
- Founding Year: 1999
- Area Serving: United States, India, Malaysia, and Vietnam
- Revenue: $3.31 Billion (2023)
First Solar, Inc. is a prominent manufacturer of thin-film solar panels in the US. Its approach combines advanced technology with a commitment to sustainability and responsible solar energy solutions. They are known for their thin-film PV modules produced using a fully integrated, continuous process that does not rely on Chinese crystalline silicon (c-Si) supply chains. Their technology and manufacturing processes set industry benchmarks for quality, durability, reliability, design, and environmental sustainability.
They are the only US-headquartered company among the world’s ten largest solar manufacturers not manufacturing in China.
First Solar is expected to have a global annual manufacturing capacity of over 20 gigawatts (GW) by 2025. In the United States, they are planning to expand to a capacity to produce over 10 GWDC of advanced thin-film photovoltaic (PV) solar panels annually by 2025. This includes their newest Ohio facility, which will have an annual capacity of 3.5 GWDC by 2025.
2. Mission Solar Energy LLC
- HQ: San Antonio, Texas
- Founding Year: 2014
- Area Serving: United States
- Revenue: $35.1 Million (2023)
The company is a subsidiary of OCI Solar Power LLC, which develops, owns, and operates solar power plants in the Americas
Mission Solar focuses on designing and assembling N-type and P-type solar panels for residential, commercial, and utility-scale applications. Mission Solar Energy offers a 25-year warranty on its products and power. They are known for their “Made in USA” approach, potentially appealing to customers who prioritize domestic manufacturing.
They operate with an ethical and sustainable supply chain, adhering to the Uyghur Forced Labor Prevention Act (UFLPA), and prioritizing responsible material selection. This commitment suggests environmental and ethical considerations are important to their business practices.
3. SunPower Corporation
- HQ: Richmond, California
- Founding Year: 1985
- Area Serving: United States
- Revenue: $1.7 Billion
SunPower has a long history of innovation in the solar industry, dating back to the 1970s when it began developing record-breaking solar technology. The company achieved volume production of its high-efficiency solar cells in 2007 and acquired PowerLight, solidifying its position in the residential and commercial solar markets.
The company’s credibility comes from its 1,000 patents, which shows its innovative approach.
SunPower closed out a strong year in FY 2023, adding a significant 16,000 customers in Q4 and bringing the total to 75,900 new customers for the year. Revenue also grew, reaching $357 million in Q4 and $1.7 billion for the entire fiscal year.
While the company reported a GAAP net loss of $124 million for Q4 and $247 million for FY 2023, Adjusted EBITDA offered a brighter picture at negative $68 million for Q4 and negative $84 million for the year. To fuel future growth, SunPower secured an additional $175 million in capital and a $25 million increase in revolving debt capacity.
4. Global Solar Energy, Inc.
- HQ: Tucson, Texas
- Founding Year: 1996
- Area Serving: United States
- Revenue: $6.3 Million (2023)
Global Solar Energy established itself as a CIGS thin-film solar panel manufacturer. By 2008, they had expanded production with a 40 MW facility in Tucson, Arizona, and a 35 MW facility in Berlin, Germany.
In 2013, Global Solar Energy, Inc. was acquired by the Chinese renewable energy company Hanergy.
5. Maxeon Solar Technologies
- HQ: Singapore
- Founding Year: 2020
- Area Serving: Globe
- Revenue: 1.06 Billion (2023)
Maxeon Solar Technologies boasts a significant global manufacturing footprint, with a current capacity of 1 GW for IBC technology and a target of 1.8 GW for their P-Series panels. Additionally, a 12 GW joint venture and plans to expand their US operations by 50% to 4.5 GW solidify their position as a major producer.
Headquartered in Singapore with a subsidiary in California, Maxeon leverages a network of over 1,700 sales and installation partners to serve customers in more than 100 countries. Founded in 2020 as a spin-off from SunPower, Maxeon has quickly established itself as a leader, with revenue exceeding $1 billion and over 5 GW of their panels powering solar plants worldwide.
It’s important to note that while they have a global presence, their manufacturing facilities are spread across different countries, including the US (formerly Solaria facilities).
6. Heliene solar panels
- HQ: Ontario, Canada
- Founding Year: 2010
- Area Serving: North America
- Revenue: $17.6 Million
Heliene is a young but ambitious player in the US solar panel market. A Canadian company with a growing US presence, Heliene has been steadily expanding its manufacturing muscle. Their focus on domestic manufacturing, high-quality products, and sustainability positions them well to capitalize on the growing demand for solar energy in North America.
Their Minnesota factory recently received a $10 million investment, doubling capacity from 150 MW to 300 MW. This brings their total US production to 900 MW in 2023. This momentum continues with plans for a new Minnesota facility aiming to produce a massive 1 GW of solar modules and 1.5 GW of cells. Moreover, Heliene serves the utility-scale, commercial, and residential markets across North America.
7. Tesla Energy Solutions
- HQ: San Mateo, California
- Founding Year: 2015
- Area Serving: United States
- Revenue: $6 Billion
Tesla Energy has expanded beyond just solar panels. They now produce their own innovative solar roof tiles that seamlessly integrate photovoltaic cells into the roof itself. This focus on solar roof production is complemented by their complete solar energy systems. These systems combine Tesla’s Powerwall battery storage solutions with solar panels sourced from established manufacturers. This allows them to leverage expertise in traditional panel production while innovating in solar roof technology.
Tesla Energy Solutions doesn’t manufacture the majority of solar panels used in their systems, making details like manufacturing capacity and revenue specifically for sourced panels difficult to pinpoint. However, their focus has evolved towards selling comprehensive solar energy systems, potentially increasing efficiency and maximizing the benefits of solar power for homeowners.
End Note
The above-mentioned solar panel manufacturers in US are the selected few with the highest capacity. If you are looking to reduce your electricity bill, you should visit one of them. These solar panel manufacturers in US will definitely make feel better when you generate your own electricity.
Efforts are being made to slow down climate change. As a responsible citizen, you can choose the best ways, as per your capacity, to reduce your carbon footprint. However, using solar panels for energy generation could be one of the best decisions.
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