TOYO revenue surges 88% in H1 2026 as U.S. solar market drives growth

Solar panel maker TOYO reported strong growth for the first half of 2026, with revenue up 88% to $261 million, driven largely by U.S. demand. Sales to U.S. customers rose 154% to $210.5 million, making up about 81% of the company's total revenue. The company shipped 2.6 gigawatts of solar cells, up 62.5% from a year earlier, plus its first solar modules from newly built U.S. manufacturing lines.

TOYO is expanding its manufacturing site in Humble, Texas, near Houston. A second module production line there is nearly finished and expected to start commercial production in September 2026, bringing the site's total module capacity to about 2 gigawatts. The company is also building a $357 million facility to make heterojunction (HJT) solar cells, a more efficient cell technology, with pilot production still on track for no later than early 2028.

For homeowners, this points to a growing supply of solar panels made or assembled in the U.S., which matters because of ongoing trade and tax rules tied to where equipment and materials come from. TOYO said it is working with the Department of Commerce on tariff and domestic-content policies that affect solar manufacturers, and that it is positioning its supply chain to avoid materials from countries flagged as a national security concern. None of this changes rebate or tax credit eligibility on its own, but as more panels get made domestically, it could affect which products qualify for incentives tied to U.S. manufacturing content down the road.