Here at Green Business we like to profile small businesses that are environmentally friendly. We decided to do something a little different this time and profile a large company that is a leader in the creation of alternative energy – specifically solar power. Just to make things clear to our readers, we are not affiliated with Suntech and make no stock recommendations. This article is strictly a company profile accompanied with personal commentary. We are giving our readers an example of a company that is making the bulk of their revenues by helping the environment.
Suntech Power Holdings Co. Ltd. is led by Chinese-born, Australian-educated, businessman Dr.Zhengrong Shi. Started in 2001, Suntech is a low-cost producer of solar technology. They develop, market and manufacture solar products that create electrical power. A few of Suntech’s competitors in solar energy includes (stock symbol in brackets): Canadian Solar (CSIQ), GT Solar Intl. (SOLR), Ascent Solar(ASTI), First Solar (FSLR), Sunpower (SPWRA).
Dr.Zhengron Shi – Founder and CEO of Suntech Power Co. Ltd.
17-6 Changjiang South Road
Wuxi, JNG 214028
Why:Massive untapped market for alternative energy. Reduction in global greenhouse gas emissions.
By providing solar energy on a mass scale.
In the video interview below, Zhengron talks about Suntech and the opportunities for solar energy. He believes there are great possibilities for solar power to one day become a mainstream power supply. With Government subsidies coupled with the fact that it is becoming cheaper to produce solar energy, Dr.Shi’s goal of reaching ‘grid parity‘ by 2012 might actually become reality. In the video, both Dr.Shi and the interviewer refer to the conversion of solar radiation into electrical power as PV, which is the shortform of the scientific term photovoltaics.