Suntech, the largest crystalline silicon solar panel manufacturer in the world, is looking to expand its manufacturing presence beyond China into the USA to capture more of the growing North American solar power market.
Suntech (NYSE:STP) is currently investigating several US cities as possible locations for a new solar panel manufacturing facility.
According to Suntech’s Chairman and CEO, Dr. Zhengrong Shi, growth in demand for large-scale solar farms, the increasing number of US states with feed in tariff programs and Obama’s recent stimulus package were among the factors leading Suntech to make the leap to local manufacturing.
The company will be announcing the final choice within the next six months. The choice will depend on a number of different factors including tax incentives, and cost-effective location.
By locating manufacturing facilities close to its customers, Suntech says it will drastically reduce logistics issues and costs and also reduce carbon emissions due to the shorter transport routes for solar modules. The company will announce its choice of cities within the next six months, which will depend on a number of factors including tax incentives and cost-effective location. A US produced Suntech solar panel will also be more attractive to American consumers dedicated to buying local.
While the USA has been successful in attracting a number of big name renewable energy players to set up manufacturing facilities on its shores recently and creating many new jobs in the process; Australia hasn’t been so lucky. While the nation’s smaller population does come into play, Australia is reportedly losing out on billions of dollars in overseas investment and countless local jobs through not providing solar companies incentives that are available in other countries.
