T1 Energy is a U.S. solar module manufacturer, selling photovoltaic (PV) modules primarily to utility-scale solar project developers, with smaller volumes to commercial, industrial, and residential customers. T1's core manufacturing asset is G1_Dallas, a 5 GW annual capacity module assembly facility in Wilmer, Texas, producing PERC and TOPCon silicon-based modules. T1 sells modules directly to developers and utilities, with Trina Solar's U.S. sales team acting as sales agent through at least 2029. T1 sells under cost-plus and fixed-margin contracts, which provide revenue predictability, as well as merchant spot sales. A central element of T1's economics is the Section 45X Advanced Manufacturing Production Tax Credit under the IRA, which pays $0.07 per watt for domestically manufactured modules — at full capacity, this could exceed $350M annually, and T1 can sell these credits to financial institutions for cash. T1 is constructing G2_Austin, a solar cell fab in Milam County, Texas, with Phase 1 targeting 2.1 GW of annual cell capacity by Q4 2026. Currently, T1 imports cells from non-Chinese suppliers, but once G2 is online, T1 will manufacture both cells and modules domestically. T1 also sources polysilicon from Hemlock Semiconductor and is working with Corning on domestic wafer production, positioning T1 to offer modules with 70%+ domestic content — a key commercial driver for developer customers seeking maximum IRA tax credit eligibility.