Applied Materials Looks To China For Solar's Future
China represents the largest opportunity for solar panel makers, based on its government's commitment to establishing solar manufacturing and spurring demand, said Mark Pinto, head of Applied Materials Inc.'s (AMAT) solar unit.
With the help of government stimulus and a push by all levels of government, from local mayors to the Central Committee, the China market is developing rapidly from an area devoted primarily to manufacturing solar panels to one of the world's largest buyers, he said in an interview Friday.
Despite making about 40% of the world's solar panels last year, the country consumed nearly nothing. But in the next two years, he said, China will pass market leader Germany and the still-nascent U.S. market to become the largest consumer of solar in the world.
"It is changing so fast there," Pinto added.
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