Suniva reported that the funds will be used for buying next generation technologies, which are capable of reducing the cost of solar panels below $0.50 per watt with improvements that increase module power while decreasing manufacturing costs.

Including its 200MW cell and module facility in Norcross, Georgia, the company operates 450MW of manufacturing globally.

Suniva co-founder and chief technology officer Ajeet Rohatgi said the Department of Energy chose the company to help with important technology innovations that provide unique, differentiated products for the solar industry.

"World-class power at affordable prices from a U.S. manufacturer is an attractive combination for the solar marketplace and helps the U.S. to maintain its technology innovation edge," Rohatgi added.

Suniva produces crystalline silicon photovoltaic (PV) solar cells and high-power solar modules.