By Ben B.
According to the recent New York Times Op-Ed Columnist Thomas L. Friedman, “Applied Materials is one of the most important U.S. companies you’ve probably never heard of.” Applied makes the machines that make microchips for computers, and in 2004 it branched out to include solar panels. It has built 14 solar panel factories around the world in the last two years, but not a single one is in America.
The reason the solar industry is growing in other countries is because their governments have realized they can no longer pollute their way to prosperity. Over the last 18 months, even China has decided that clean-tech is the next great global industry and is now creating a massive domestic market for solar and wind.
Friedman points out that the world is on track to add another 2.5 billion people by 2050. To survive in such a world, renewable energy like wind and solar, whose variable cost is zero, will be in huge demand. He concludes by noting “if you like importing oil from Saudi Arabia, you’re going to love importing solar panels from China.”
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