MiaSole Awarded $100M in Federal Tax Credits to Advance Solar Manufacturing in the US

Jan 14, 2010, 09:00 ET from MiaSole

SANTA CLARA, Calif., Jan. 14 /PRNewswire/ -- MiaSole, a leader in the manufacture of CIGS thin-film photovoltaic modules, has received two Advanced Energy Manufacturing Tax Credits totaling USD 101.8 million from the Obama Administration for the manufacture of Solar PV Cells and modules based on an innovative thin-film production technology. These Solar PV Cells will lower the costs of renewable clean electricity generation.

MiaSole will be adding jobs to ramp up its manufacturing facility in Santa Clara, CA. The company increased its workforce from 150 to 300 employees in 2009.

"We believe the award is a reflection of the Department of Energy's confidence in MiaSole's technology and business model," said Dr. Joseph Laia, Chief Executive Officer. "The strong show of support by the Obama Administration is encouraging, and we look forward to ramping our manufacturing capacity and creating jobs aided by these funds. We also view the commitment of the Administration to create green manufacturing jobs as important in positioning the United States towards the future."

A total of USD 2.3 billion in tax credits is being allocated for investments in 183 manufacturing facilities for clean energy products across 43 states. More than 500 applications were submitted for these tax credits. Winners were selected based on their commercial viability, domestic job creation, technological innovation, potential for reducing air pollution and greenhouse-gas emissions, and the speed at which the projects would be completed.

About MiaSole

California-based MiaSole manufactures solar panels utilizing the thin-film copper indium gallium diselenide (CIGS) semiconductor. The company's goal is to enable grid parity solar energy through high-volume manufacturing of low cost, high-efficiency thin-film solar modules. More on the company is available at www.miasole.com.