What an exciting ride: REC celebrates 25 years of excellence on the solar coaster

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The year 2021 marks the 25th anniversary of the REC Group, an international pioneering solar energy company with Scandinavian heritage. Founded in 1996 in Norway, REC has been committed to its mission to empower people with clean solar energy through innovative technology. A quarter of a century later, high-efficiency solar panels manufactured by REC are continuing to help homeowners, businesses and utilities around the globe to harness clean power from the sun, reduce their carbon footprint and take more control of their energy costs.

REC has come a long way since its establishment 25 years ago and what an exciting ride it has been. The company has experienced the ups and downs of the industry's "solar coaster." Many brands have come and gone, while REC Group has grown from a company washing its first wafers by hand in Norway to Solar's Most Trusted, manufacturing solar panels utilizing industry 4.0 processes.

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Back in 1996, solar was a niche energy source with only 309 MW installed globally.[1] Many people did not believe that it could ever replace fossil fuels. Even international organizations such as the International Energy Agency continuously underestimated the potential of solar PV for many years. Today, with a global capacity of 714,000 MW[2] solar is an affordable, reliable and cost-competitive energy source with only a few Dollar cents generation costs per kilowatt hour, and through its innovations, REC Group has played a significant role in driving this transformation. While the global growth trajectory for solar PV has seen a slight dip 2020 due to the pandemic as part of the solar coaster, REC market analysts see an optimistic outlook for solar markets worldwide in the mid and long term.[3]