Powur Announces Purchase of 18MW PV Modules in midst of Industry Shortage
Powur PBC, the fastest-growing national residential solar company, today announced the steps it is taking to ensure customer access to the entire solar supply chain through unprecedented macroeconomic events.
Carlsbad, Calif., Sept. 2, 2021 /PRNewswire-PRWeb/ -- Powur PBC, the fastest-growing national residential solar company, today announced the steps it is taking to ensure customer access to the entire solar supply chain through unprecedented macroeconomic events.
The distressing discoveries of forced labor tied to the silicon industry in the Xinjiang province in China have led US Customs to ban all imports coming from this region. This ban has disrupted the supply chain for a number of industries, with the solar industry particularly affected - even for US-based PV panel manufacturers. Additionally, global chip shortages resulting from the Covid pandemic, and inflationary price increases in raw materials and transportation costs are further threatening homeowner access to low-cost, available components to support their transition from dirty grid power to clean energy from the sun.
To protect Powur customers and stakeholders from these developments, the company has taken a multi-faceted approach, including:
-- Diversifying its product line to minimize supply chain disruption.
-- Moving to onshore, US-based manufacturers where possible.
-- Increasing the level of safety stock to minimize business disruption.
-- Closely monitoring threats to human rights and adjusting our procurement strategy accordingly, in keeping with our culture and mission as a public benefit corporation and Certified B-Corp.
In regards to the recent measures taken, Jonathan Budd, Powur CEO shared, "I can't think of a better way to protect our customers and solar consultants than using Powur's strong cash flow to secure the supply chain. For this reason we chose to procure over $8M in diversified PV modules throughout Q4 to make sure our consultants and customers have access to clean energy products and will not suffer disruption to their livelihoods. We will continue to monitor developments around forced labor and human rights around the world to ensure that our supply chain partners are aligned with our mission and values."
These unprecedented measures are being taken to ensure that the Company's customers have continued availability of diverse solar products that allow them and the Company to continue the global transition to clean, sustainable energy, while also providing all of the economic benefits that are associated with transitioning to solar energy.
Mr. Budd added: "We have a mission to accelerate the adoption of sustainable energy, and we can only do that if we ensure that the products are available to fulfill that mission - especially during periods of global disruption."
About Powur:
Founded in 2015, California-based Powur is a Public Benefit Corporation that is on a mission to accelerate the adoption of solar energy worldwide. As the first 100% virtual, residential solar company in the cloud, Powur operates an innovative platform model, enabling it to scale quickly and meet the demands of an ever-expanding solar landscape. The company's model ensures that Powur is able to provide affordable and customized solar solutions to homeowners while empowering its network of thousands of independent solar consultants and regionally specialized installation partners. Powur is the fastest growing national residential solar company in the US, currently operating in 15 states. For more information on the company, visit https://powur.com/.
Media Contact
Leonardo Arias, Powur PBC, +1 8584137536, [email protected]
SOURCE Powur PBC
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