See on Scoop.it – E-mobility and renewable energy
Does Suntech’s insolvency reflect Beijing’s desire for solar consolidation? Not really, says GTM Research.
With the largest solar company in China, going bankrupt, many in the west will look sideways the next time a Chinese renewable energy provider wants to go public. The reality is that the Chinese local and state governments will pick up the factories, to keep employment going. They will then direct those factory productions to internal use by promoting renewable energy. The state becomes producer and consumer, reducing its costs. How is this different from Hydro Quebec, which owns the hydro power here, and exports it to other markets for major profit? So before running to criticize the chinese, remember General Motors and Chrysler who depended on US government bailout funds too.
See on www.greentechmedia.com
