Silicon Valley's solar innovators have found that the golden state may not be the place to capture golden rays. According to a recent report in the San Francisco Chronicle, Applied Materials Inc, among others, is investing $300 million in Xian, China to develop a giant solar energy research and development center – apparently, "China's where the action is."
Applied Materials Inc. Spokesman David Miller told the Chronicle: "If the U.S. doesn't get serious, China's going to own this industry. Here, we're way behind. We're still messing around with energy bills. We need to get serious, to get capital spending flowing, to get the government truly behind it, to get focused."
Thus far, Chinese officials have worked diligently to build
an economy for the 21st century by providing $60 billion annually in
alternative energy incentives. By 2013, the total clean market could amount to
more than $1 trillion annually. (Cal-Tax:
In California, incentives are mistakenly labeled loopholes.)
Cal-Taxletter, October 2, 2009
© 2009 California Taxpayers'
Association.
All Rights Reserved.