Solar manufacturer CubicPV has announced it will discontinue its plan to develop a 10 GW silicon wafer factory in the United States. The company will instead focus on producing tandem solar modules. The decision was made due to changing market dynamics, including a collapse in wafer prices and a surge in construction costs. As part of restructuring plans, the company reduced its workforce and eliminated positions tied to the U.S. factory effort. Following 16 years as CEO, Frank van Mierlo will step down and Tim McCaffery, global investment director, SCG, will assume CEO responsibilities. The firm secured $103 million in equity financing to support the now-scrapped wafer plant in Summer 2023.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
