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OREGON SOLAR ENERGY NEWS
SOLAR INDUSTRY ACCELERATES IN OREGON June 6, 2008 - Based on article by Ben Jacklet on www.oregonbusiness.com
The June 2008 issue of OregonBusiness.com spotlights the rapid growth of the solar industry in the State of Oregon the past few years. The article points out that residential solar installations are up 35% in 2008 and commercial installations are set to quadruple this year. One of the keys to this significant growth is that the state offers some of the most generous solar incentives in the country. The biggest incentive is the Business Energy Tax Credit (BETC), which Oregon sweetened in January to cover half of company investments in solar up to $40 million. Oregon has awarded $46 million in tax credits to four solar companies with facilities in the state: SolarWorld, Peak Sun Silicon, Solaicx and PV Powered. SolarWorld is a Germany-based giant that has moved into the state. Peak Sun Silicon is based in Millersburg, OR with plans to raise $718 million and create 500 jobs by the end of 2011. The company is headed by solar pioneer John Schmacher, who holds over 40 patents. PV Powered started as a small company that quickly picked up $7 million in BETC and nearly $30 million in venture capital. The CEO/Chairman Gregg Patterson was VP and GM for Hewlett Packard. The company has entered a partnership with Boeing to improve quality control of its inverter manufacturing. Never before has so much financial attention been placed on solar by corporate and government officials. Oregon leaders expect that by the Spring of 2009 solar manufacturers will benefit from $1.4 billion in committed capital investments. Solar companies based in the state are focused on reducing costs, which is similar to the position semiconductor companies found themselves in twenty years ago.
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