REC Silicon, a Norwegian polysilicon supplier, recently announced the cessation of production at its polysilicon plant in Moses Lake, Washington, USA. This move marks the complete halt of REC Silicon’s polysilicon business in the United States, once again drawing industry attention.
It is reported that REC Silicon had already shut down its polysilicon production facility in Montana, USA, earlier in 2024. The Moses Lake factory, which was closed and downsized in 2019, was reopened in 2022 due to a surge in polysilicon prices. However, faced with the current cooling of the global photovoltaic industry and a sharp drop in polysilicon prices, REC Silicon had to make the decision to halt production again.
Founded in 1996, REC Silicon was once one of the world’s leading polysilicon suppliers. During its heyday, it ranked among the top five globally in terms of solar-grade polysilicon shipments for several consecutive years. However, since 2016, the company’s performance has declined, gradually fading out of the photovoltaic industry. In 2019, REC Silicon announced the closure of the Moses Lake factory, effectively exiting the photovoltaic industry. However, the surge in polysilicon prices in 2021 gave REC Silicon a chance for rebirth. In 2022, Hanwha Q CELLS became the largest shareholder of REC Silicon through multiple acquisitions and announced the reopening of the Moses Lake factory.
Yet, as the global photovoltaic industry entered an adjustment period and polysilicon prices plunged, REC Silicon’s reopening plan failed to meet expectations. The future of the Moses Lake factory, now halted, remains uncertain.
REC Silicon’s repeated shutdowns and restarts reflect the volatility and uncertainty of the photovoltaic industry. In response to market changes, companies need to constantly adjust their strategies to adapt to industry trends. Whether REC Silicon will rise again in the future remains to be seen.
