Shoals Technologies Group Applauds President Biden’s Executive Action to Spur U.S. Solar Manufacturing
June 07 2022 - 5:27PM
Shoals Technologies Group, Inc. (“Shoals” or “the Company”)
(Nasdaq: SHLS), a leading provider of electrical balance of systems
(EBOS) solutions for solar, storage, and electric vehicle (EV)
charging infrastructure, today issued the following statement from
Jason Whitaker, President & Chief Executive Officer, applauding
President Biden’s Executive Action to spur U.S. solar manufacturing
and decision to declare a 24-month tariff exemption for imported
solar panels.
“As the leading manufacturer of electrical balance of systems
components (“EBOS”) in the United States for the solar industry, we
applaud President Biden’s Executive Action invoking the Defense
Production Act to spur domestic manufacturing, strengthen our power
grids, and accelerate job creation while also granting a 24-month
tariff exemption bridge.
Our partners rely upon the steady flow of solar panels and
components to address the Administration’s climate change goals.
This Executive Action provides near-term certainty for them to
proceed forward, which will lead to tens of thousands of
good-paying American jobs in construction and the US clean energy
manufacturing field.
With over half of the solar projects in the
United States utilizing our solutions, our clients depend upon
Shoals to provide mission critical products that collect energy
produced by solar panels in order to supply it to the electrical
grid. While there is much left to do to boost the industry’s
broader domestic manufacturing capabilities, yesterday’s decision
will enable us to continue adding manufacturing jobs at our
facilities in Tennessee, Alabama, and California to support the
tremendous future of clean energy manufacturing in the United
States.”
About Shoals Technologies Group,
Inc.
Shoals Technologies Group, Inc. is a leading
provider of electrical balance of systems (EBOS) solutions for
solar, storage, and electric vehicle charging infrastructure. Since
its founding in 1996, the Company has introduced innovative
technologies and systems solutions that allow its customers to
substantially increase installation efficiency and safety while
improving system performance and reliability. Shoals Technologies
Group, Inc. is a recognized leader in the renewable energy industry
whose solutions are deployed on over 20 GW of solar systems
globally. For additional information, please visit:
https://www.shoals.com/.
Forward Looking Statements
This press release contains forward looking
statements, including statements regarding the initial public
offering. These statements are not historical facts but rather are
based on the Company’s current expectations and projections
regarding its business, operations and other factors relating
thereto. Words such as “may,” “will,” “could,” “would,” “should,”
“anticipate,” “predict,” “potential,” “continue,” “expects,”
“intends,” “plans,” “projects,” “believes,” “estimates” and similar
expressions are used to identify these forward-looking statements.
These statements are only predictions and as such are not
guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those in the Company’s
registration statement filed with the Securities and Exchange
Commission.
Contacts:
Investors:Email: investors@shoals.com Phone:
615-323-9836
Media: Email: media@shoals.com
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