California solar industry adding many jobs

Last week, the New York Times reported the soaring growth of the California solar industry, which has recently added several thousands jobs. Between 2006 and 2007, California’s installed solar generating capacity increased 50%, and venture capital investment in the state’s solar industry grew from $253 million to $654 million. That’s about half of all U.S. venture capital investments in solar.

SunPower expects revenues of over $1 billion this year, up from its 2007 revenue of $775 million, which was in turn more than triple its 2006 revenue. Nanosolar, an innovator challenging the dominant crystalline silicon photovoltaic technology, has 18 months of backlogged orders from Germany.

State and local governments have “earmarked” $3.2 billion of subsidies for solar installation.

Source: www.worldbusiness.org

Article: www.nytimes.com/2008/02/01/technology/01solar.html