NEXTracker, a company that specializes in smart solar trackers, energy storage systems and advanced control software, has been selected by 174 Power Global, an affiliate of Hanwha Group, to supply its smart solar trackers across the company’s 3.4 GW U.S. portfolio.
The contract was executed in the second half of 2019 and NEXTracker completed the shipment of 3.4 GW. The commercial agreement marks one of the largest racking contracts in solar industry history.
“NEXTracker has a proven track record for on-time delivery, flexibility and the capacity to scale and meet customer’s requirements,” says Henry Yun, CEO of 174 Power Global.
“NEXTracker’s distributed architecture and exemplary yield gain technology were critical to our decision. Having an assured tracker supply and cost savings guaranteed through Safe Harbor as we continue to plan our project pipeline is critical in advancing our mission of creating a more sustainable future,” he adds.
Businesses are looking to maximize the benefit of the solar investment tax credit (ITC) before the end of the year, when the ITC phases down. The ITC dropped from 30% in 2019 to 26% this year and will decline an additional four percentage points in 2021 before falling to 10% in 2022.
More companies are turning to NEXTracker because of its globally diversified supply chain and history of delivering high performing products to meet customer’s schedule requirements, notes the company.
Photo: NX Horizon smart solar tracker by NEXTracker