A Joint Venture to Boost U.S. Solar Production
Dean Solon, the founder, CEO, and president of Create Energy and Shoals Technologies Group, along with Hamlet Tunyan, CEO of RECOM Technologies, have announced the launch of ReCreate. This new venture will establish a cutting-edge manufacturing facility in Tennessee, with a planned production capacity of up to 5 GW of modules and 5 GW of cells for the North American and European markets.
Impact of the Inflation Reduction Act on Solar Manufacturing
The Inflation Reduction Act (IRA) of 2022 has significantly stimulated solar manufacturing in the U.S., offering production tax credits for manufacturers and investment tax credits for project developers using domestic content. Wood Mackenzie projects that by 2027, there will be 144 GW of announced module manufacturing capacity, 71 GW of cell manufacturing capacity, and 61 GW of wafer manufacturing capacity. This marks a substantial increase from the current 26 GW of module capacity and minimal wafer or cell production. The 5 GW of both cells and modules anticipated from ReCreate will notably enhance the supply.
Advanced Manufacturing Capabilities at Create Energy
The facility is located at Create Energy’s manufacturing site in Portland, Tennessee. Create Energy, a U.S.-based renewable energy company founded by Solon, produces a range of products including transformers, switchgear, PV, BESS, and EV solutions, along with full turnkey EPC services. Solon, recognized for his innovative leadership in the renewable energy sector, has over 30 years of experience in engineering, innovation, and manufacturing growth both in the U.S. and globally.
“We’re excited to ignite the rocket engines on this new venture and deliver high-quality, American-made solar solutions,” said Solon. “At Create Energy, our mission is to ReCreate the renewables market and offer comprehensive solutions for solar, BESS, and eMobility projects. ReCreate will set the standard for the solar module and cell markets.”
Commitment to Innovation and Economic Growth in European renewables
Tunyan, a prominent figure in the European renewables sector, brings decades of expertise in clean-tech manufacturing, project investments, and development. RECOM Technologies manufactures modules, cells, inverters, hybrid storage systems, batteries, and EV chargers, integrating R&D, manufacturing, and distribution. The company has an annual production capacity exceeding 3.2 GW and sales in over 110 countries.
Commenting on the partnership with Solon, Tunyan said, “This project represents a significant advancement in our commitment to renewable energy and innovation. By manufacturing in the USA, we are supporting the local economy and setting new industry standards. Partnering with Dean Solon, whose expertise and vision are unparalleled, enhances our capacity to deliver exceptional solar solutions and drive meaningful change in the energy sector.”
Future Prospects for Solar Energy in North America and Europe
The ReCreate venture not only aims to strengthen solar energy production capabilities in the U.S. but also to cater to the growing demand in European markets. With a combined annual production capacity target of 10 GW, ReCreate is poised to become a pivotal player in the global solar industry, contributing to the transition towards renewable energy and sustainability on a large scale.
