Chemical Makers Invest in Solar
Dec 29, 2008 – Chemical & Engineering News reports in its December 22, 2008 issue that chemical makers have made 3 new technology investments in the solar energy field, specifically to increase capacity and advance research for traditional polysilicon solar cells and newer thin-film modules. The companies involved are Dow Corning and Konarka Technologies. Dow Corning, Shin-Etsu Handotai and Mitsubishi Materials formed a joint venture, Hemlock Semiconductor, to spend US$1.2 billion to build a new polysilicon plant in Clarksville, Tennessee. Also, Hemlock plans to spend US$1 billion to expand its current plant in Hemlock, Michigan. Dow Corning is also investing several hundred million $ to build a silane plant next to the polysilicon plant in Michigan. Silane gas is used to deposit a thin layer of silicon for thin-film photovoltaics [PVs].
Konarka Technologies, a maker of flexible-film solar cells has signed agreements with Total, the French oil & gas company, for Total to buy 20% of Konarka and invest US$45 million to be used to fund solar power projects.
The above investments are in stark contrast to the investment cutbacks being made by chemical companies in their other endeavors. The above companies and others are projecting increases in solar power installations worldwide even with the current economic problems. Presumably they believe that the President-elect Barack Obama’s commitment to support green energy infrastructure development combined with the 8 year extension of tax credits will result in their investments paying off.
Do you think we will continue strong development & installation of solar power even with a poor economy and lower oil prices? Please make your comments and check back to see comments from other readers.
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