MiaSole gets $100 million in federal tax credits to advance solar power

Santa Clara, Calif., January 14, 2010 — MiaSole, a maker of CIGS thin-film photovoltaic modules, won two advanced energy manufacturing tax credits from the Obama administration.

The credits are worth $101.8 million and were provided to help the company manufacture of Solar PV Cells and modules based on thin-film production technology. Solar PV Cells will lower the costs of renewable energy generation, according to the company.

MiaSole will be adding jobs to ramp up its manufacturing facility in Santa Clara, California. 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 $2.3 billion in tax credits is being allocated for investments in 183 manufacturing facilities for renewable 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.

California-based MiaSole manufactures solar panels using 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.

 

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