Sun Solar Powers Growth: Expanding into Illinois and Venturing into Solar Panel Manufacturing
Springfield, [5/30/2023] – Sun Solar LLC, a leading solar energy company, is proud to announce its strategic expansion into the thriving market of Illinois. This marks a significant milestone for the company as it expands beyond its home state for the first time in its 11-year history. In addition to this expansion, Sun Solar is venturing into the domain of solar panel manufacturing, bringing a new dimension to its comprehensive range of services.
With an impressive revenue of $41.2 million in the previous year, which reflected a remarkable 210% increase from 2020, Sun Solar is well-positioned to capitalize on the growing business opportunities and increased investments in clean energy. The company’s CEO, Caleb Arthur, expressed his commitment to investing more resources in Illinois to fuel further growth.
The expansion will be facilitated through the opening of a new office in Illinois by early June. While the company will maintain its headquarters in Springfield, this strategic move allows Sun Solar to tap into the burgeoning business landscape and capitalize on the state’s commitment to clean energy. The new 12,000-square-foot facility, located in Cohokia Heights near East St. Louis, will encompass both office and warehouse space, enabling seamless operations and efficient service delivery.
Caleb Arthur shared his vision for an aggressive expansion plan in Illinois, aiming to add approximately 75 employees in the state by the end of the year. This substantial growth in the workforce demonstrates Sun Solar’s commitment to job creation and economic development in the region. The company’s employee count increased from 114 in 2021 to 250 by the end of the previous year, reflecting its continued success and rising demand for its services.
In addition to the expansion into Illinois, Sun Solar is embarking on an exciting new endeavor – solar panel manufacturing. With plans to raise $15 million in capital from its customers this summer, Sun Solar aims to make a substantial investment of approximately $100 million by 2024 to establish its own manufacturing capabilities. This ambitious initiative is driven by the long-standing dream of CEO Caleb Arthur to manufacture and provide solar panels directly to Sun Solar’s customers. The investment will cover various aspects such as raw materials, payroll, rent, and inventory required for the manufacturing process.
This move into solar panel manufacturing aligns with the company’s commitment to supporting domestic production and reducing reliance on foreign manufacturers, particularly China, which currently supplies 80% of the world’s solar panels. Sun Solar aims to contribute to the growth of domestic solar manufacturing and strengthen the United States’ energy independence.
The company’s expansion and foray into manufacturing are fueled by the significant opportunities presented by the Inflation Reduction Act, which was passed by Congress and signed into law by President Joe Biden last year. This act provides a 30% solar investment tax credit until 2025, creating incentives for increased domestic solar manufacturing. Sun Solar aims to leverage this opportunity to expand its operations and contribute to the nation’s clean energy goals.
As Sun Solar embarks on this exciting new chapter, the company remains dedicated to its core values of exceptional service, innovation, and customer satisfaction. By expanding into Illinois and entering the solar panel manufacturing sector, Sun Solar is poised to shape the renewable energy landscape and drive sustainable change.