October 22, 2011
TO THE CONTRARY, THEY CARE DEEPLY...:
Don't fear free trade in solar: Solyndra fallout and fear-mongering have brought the U.S. to the brink of a trade conflict with China, which could threaten jobs in the fastest-growing industry in the U.S. (Andrew Beebe, chief commercial officer of Suntech, 10/21/11, Fortune)The last six months have been tough for solar panel manufacturers. While Solyndra has received most of the headlines, more than 50 China-based photovoltaic manufacturers have also closed shop. Rapidly declining prices have squeezed all of our balance sheets. Amidst the competition, Solyndraphobia and fear-mongering have brought the U.S. to the brink of a misguided solar trade conflict against China, which could threaten the livelihood of the global solar ecosystem, particularly solar jobs in the U.S....they're just embarrassed by its success.
The U.S. is net exporter of solar products to China by hundreds of millions of dollars, and to the world by $2 billion (see U.S. Solar Energy Industries Association (SEIA) report). Suntech (STP), too, is a net consumer of solar products in the U.S. - we've purchased more solar products in U.S. dollars than we've sold. Many of our major suppliers are U.S.-based companies and solar industry leaders, such as Hemlock, MEMC, DuPont (DD) and Applied Materials (AMAT). At the same time, Suntech just invested about $10 million in a module manufacturing facility in Goodyear, Arizona, which now employs more than 100 professionals working around-the-clock. A trade war would put all of that at risk.
Still, some U.S. politicians and solar industry representatives want to end free trade in the global solar industry. They fear competition. They don't care that the solar industry is the fastest-growing industry in the U.S., and now employs more than 100,000 Americans. They don't care that the solar industry is expected to add 24,000 jobs over the next 12 months alone, amidst anemic macroeconomic conditions. They don't care that we're on the verge of a revolution that will change the way the world produces and consumes energy.
Posted by oj at October 22, 2011 8:44 AM
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