Thursday, October 2, 2008

Suntech aims to triple U.S. 2009 sales (STP)

They obviously were going to do this whether the subsidies were renewed or not. As Environmental Capital asked on Monday, "Clean Breaks: Are Tax Credits Do-or-Die for Renewable Energy?":

...Monday’s shootdown of the bailout plan means Congress can’t pack up for vacation just yet—which might even give legislators more time to hammer out an agreement on tax policy and provide eleventh-hour salvation to the renewable-energy industry, which has been hollering all year for an extension of the tax credits.

And if Congress doesn’t act? The sky may not fall, after all.

America’s renewable-energy industry has historically depended on the tax credits, because they help make things like wind and solar power cost-competitive with traditional sources of power generation. But the renewables industry is growing up quickly—despite (or because of) the threat the tax credits would expire at the end of this year, both the wind- and solar-power industries have chalked up record levels of power installations in 2008.

The electricity projects in the pipeline right now don’t paint clean energy as the industry’s poor cousin, either....MORE
Here's the headline story from Reuters:
Solar products maker Suntech Power Holdings Co (STP.N: Quote) said it aims to triple sales to the U.S. in 2009 after announcing expansion initiatives.

The company, based in the eastern Chinese city of Wuxi near Shanghai, said it formed a joint venture with MMA Renewable Ventures, forming Gemini Solar Development Company LLC.

Gemini Solar will seek to develop, finance, own and operate large-scale photovoltaic (PV) projects greater than 10 megawatts, the company said.

Suntech said it acquired EI Solutions, a California-based commercial solar system integration company, to target commercial, utility and government customers in the U.S.

The company also announced an expansion of its U.S. dealer network to increase penetration into the residential roof-top and small commercial system solar market and build brand recognition with downstream solar integrators....MORE