SolarWind’s CEO, Doug Noyes, said Thursday he’s calling for an industrywide overhaul of the way solar panels are produced, with the goal of lowering costs for consumers.
The company said it would start producing panels using the sun’s energy in the U.S. by 2019.
The move would be a boon for homeowners and the solar industry, with SolarWind currently selling panels to homes and businesses for about $25 per kilowatt-hour.
In an interview with Fox Business, Noys said that the company would need to make up for lost revenue in the years ahead if it wants to make a dent in solar’s price, but he didn’t offer specific figures.
“The problem is that it is a finite resource.
It’s not going to go away,” Noyles said.
SolarWinds plans to start using the solar energy in its panels by 2019, while it also plans to use panels from the United Arab Emirates and China to produce its panels.
The UAE has a market-leading market for solar panels, while the Chinese market is dominated by a handful of companies.
Noyes said the company has no plans to sell its panels in the United States, though he acknowledged that there are some potential markets for its solar panels.
While Noyys comments could come as a blow to SolarWind, the company said in a statement that it has been in discussions with its customers about the move.
SolarWind said in the statement that the U