shoals technologies

PV balance of system solutions provider Shoals Technologies will invest US$80 million to expand its manufacturing operations in Tennessee.

PV balance of system (BOS) solutions provider Shoals Technologies posted an increased adjusted EBITDA in the first quarter of 2023, while the company expected yearly revenue of up to US$510 million. 

PV balance of system (BOS) solutions provider Shoals Technologies is expected to continue its growth this year thanks to the increased demand for its new products, while its adjusted EBITDA in 2022 increased by more than 47.8% year-on-year, according to the latest financial results.

PV balance of system (BOS) solutions provider Shoals Technologies benefited from improving solar market conditions during Q3 as it posted record quarterly revenue and raised its 2022 guidance.

US solar product manufacturer Shoals Technologies Group saw record revenue and gross profit in the second quarter of 2022 due to strong demand for its combine-as-you-go system and a large number of new customers buying up components.

Shoals Technologies has become the latest solar manufacturer to adjust its guidance for the year, blaming an “increasingly challenging environment” caused by the US AD/CVD investigation.

Shoals Technologies is set to double its electrical balance of systems (BOS) manufacturing capacity with a new US facility as its backlog and awarded orders reach a record high.

Solar balance of system (BOS) solutions provider Shoals Technologies has formed a partnership with commercial and industrial PV project developer Luminace to pursue distributed renewables and electric vehicle (EV) charging solutions across the US.

Solar balance of system (BOS) solutions provider Shoals Technologies saw its Q3 revenues increase 14% year-over-year, but said this rise was less than expected as some customers changed product specifications or delayed shipments due to supply chain issues.

US solar balance of systems (BOS) solutions provider Shoals Technology Group reported a record Q2 revenue increase of 38% on last year, bringing the total to US$59.7 million. Its system solutions grew 62% year-on-year and contributed an increased share of last quarter’s revenue compared with the same period the year before