Taiwan sees bright future for solar cells

Two of Taiwan's largest solar cell manufacturers plan to raise nearly $500m to increase production this year, according to local media reports.

Motech Industries will ask for about $300m from investors, and E-Ton Solar Tech will seek more than $190m. 

The initiatives are part of a surge in production of solar cells in Taiwan's electronics manufacturing industry. Solar energy remains a niche product, but demand is growing at 20 to 50 per cent a year.

Taiwanese companies are now entering the market, and betting that rising oil prices will create huge demand for cheaper and more efficient next-generation solar cells.

The government has encouraged research and investment in solar energy with grants and regulatory assistance, and analysts predict that the country could eventually earn $7.5bn a year from the industry.

The sector generated about $220m from solar cells and auxiliary components last year, according to government statistics.

See also:

Taiwan enjoys record breaking electronics sales

Let the good times roll  03 May 2006

Yamaha invents glow-in-the-dark motorbike

Luminous coating offers visibility and safety benefits  20 Apr 2006

Millions of Taiwanese products fail EU safety tests

$625m worth will fail Hazardous Substances directive  05 Apr 2006

Sony spends $6bn with Taiwanese manufacturers

16 per cent increase from last year's $5.2bn  30 Mar 2006

IT industry spends $66bn in Taiwan

More than 80 per cent of notebook PCs are now made by Taiwanese companies  12 Jan 2006

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