For more than 50 years, Fastco’s primary industry has been automotive. As we look to diversify our products, we’ve moved into supplying fasteners for the construction, material handling, agriculture, and furniture industries. Now, we’re launching full-steam (full-sun?) ahead into supplying fasteners for solar panel manufacturing.
Renewable Energy
Renewable energy solutions are the future. The climate crisis has proved that reliance on fossil fuels is unsustainable. Companies are working on energy solutions and setting target dates for net zero emissions.
In the solar renewable energy sector, there are both individual and corporate tax credits and other incentives available for people and companies that install solar panels. These incentives were enhanced with the Inflation Reduction Act of 2022.
Solar Panel Manufacturing Growth
In the first half of 2022 in the US, solar accounted for 39% of all new electricity-generating capacity added to the country’s power grid. If not for ongoing supply chain constraints, we would be seeing even more robust growth.
The Inflation Reduction Act of 2022 will be a catalyst for continued growth over the next 5 years, with an anticipated increase of 40% in solar deployment from 2023-2027. As a result, there will be a tripling of the US’s solar energy capacity.
Solar Panel Fasteners
At Fastco, we are seeing a boom in the number of solar fastener requests for quote and new business awards we receive. For solar installations, austenitic stainless steels like 302 or 304 are often preferred due the durability. Other steels can be used, typically with a zinc-nickel or such similar coating as Magni 565.
It is clear that we are on the cusp of a big boom in the solar panel manufacturing field. Fastco is excited to be a part of this industry’s growth. Fasteners are essential components in almost all fields. They hold the world together (literally!), and we love seeing our fasteners used in ways that improve our planet.