China Sees the Light…of Solar Power
Although there are many factors at play when it comes to toxic materials that have been used to build homes, some of these materials have originated from China (Drywall to be specific). But you can’t blame the Chinese for investing in alternative energy as their government continues to sink millions into solar energy and Chinese entrepreneurs are also investing heavily in the manufacturing of solar panels.
According to the New York Times, “Chinese companies have already played a leading role in pushing down the price of solar panels by almost half over the last year.”
Is America being passed up by the Chinese in the solar industry? Not if Obama can help it but its doubtful we will ever match the production levels that the Chinese can maintain.
The Obama administration is determined to help the American industry. The energy and Treasury departments announced this month that they would give $2.3 billion in tax credits to clean energy equipment manufacturers. But even in the solar industry, many worry that Western companies may have fragile prospects when competing with Chinese companies that have cheap loans, electricity and labor, paying recent college graduates in engineering $7,000 a year.
[via New York Times]