Silfab Builds Solar Cell Factory in South Carolina
- Canadian PV manufacturer Silfab Solar Inc has announced an investment of $150 million to construct a solar cell factory in South Carolina, creating 800 jobs and 2 GW of PV cells and 1.2 GW of modules a year. The project has been approved for job development credits.
Canadian PV module manufacturer Silfab Solar Inc has announced an investment of USD 150 million to build a solar cell factory in South Carolina. The 785,000-square-foot facility is expected to become operational in the third quarter of 2021 and create 800 jobs. The project has been approved for job development credits by the Coordinating Council for Economic Development, which is providing a USD 2 million grant to York County for building improvements. The new plant's production capacity is expected to be 2 GW of PV cells and 1.2 GW of modules a year.
What Is the Impact of Silfab Solar's USD 150M Investment?
- The investment is expected to have a positive impact on the York County region, providing 800 jobs as well as tools to help improve the region’s infrastructure such as the USD 2 million grant for building improvements.
- Silfab Solar’s new manufacturing facility could also help reduce the cost of solar energy, making solar power more accessible to citizens.
- The facility is expected to provide high quality solar products to the US market, which could help the country meet its renewable energy goals.
- The new facility is expected to spur further investment in South Carolina, creating opportunities for other businesses in the area to take advantage of the influx of capital.
- The investment could also create secondary economic benefits, such as increased investment in local businesses, increased consumer spending, and new opportunities for employment.
- It could also provide an opportunity for the region to attract other high-tech companies, creating a technology hub in South Carolina.