China's solar leader and the world's largest producer of photovoltaics by volume, will build a factory in the United States. "We believe in the outstanding long-term prospects of the solar energy market in the United States," Suntech's CEO (and erstwhile richest men of china. "A number of favorable developments have led us to this decision, including the dramatic growth in utility demand for large-scale wholesale solar projects, the increasing number of states with incentive programs for customer-owned systems and the federal government's recent stimulus package."
This is that promoting clean energy in the US is going to generate green jobs at home.
The location of the new facility will be chosen within the next six months, based on a variety of factors, including local manufacturing incentives and long-term policy commitments that incentivize solar ownership. Those two factors seem to be driving the company's decision to start manufacturing in the US. Suntech, which is listed on the New York Stock Exchange (NYSE: STP), was the first Chinese solar company to enter the US market, and has a branch office in California, where it expects to do 70 percent of its business.
"Suntech has invested significant resources in establishing a world-class solar team in the U.S. to service a national dealer network, provide system design and installation advice and support, and develop 10MW+ solar projects," said Dr. Shi, in a statement. "Initiating manufacturing in the U.S. will drive further growth of green jobs and support the ongoing transition to renewable energy sources."
If the U.S. market grows as quickly as Suntech expects, Roger Efird, president of Suntech America, the company's U.S. subsidiary, said the company could provide "1,000 or so" manufacturing jobs in the next few years.
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