Over this past weekend, Reuters ran an interesting article about Motley Fool Rule Breakers recommendation Suntech Power
Rather, what caught my attention was that Zhengrong Shi said he expects the U.S. to become Suntech Power's largest market in "two to three years." As a measure of this confidence, Shi indicated that he is considering building a manufacturing facility in the country. This is significant news for investors as U.S. sales currently represent only 15% of Suntech's business.
Shi estimates the U.S. market will grow between 30% and 50% for the next decade. A number of people, including myself, would agree with both his bullish sentiments as well as his growth estimates.
I can see a clear strategy for healthy growth at Suntech for at least the next 10 years. In the short term (2007-2010), I expect that sales in both Europe and the U.S. will fuel the company's growth. In the mid-term (2010-2015), the U.S. will surpass Europe and become the predominant driver of Suntech's growth. Longer-term (2015+), however, the falling price of solar technology in combination with China's insatiable appetite for clean energy will likely propel it to become Suntech's largest market.
Suntech is not alone in the solar industry with a global strategy: BP Solar
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