Evolution Solar is moving its primary business office to China in a bid to cash in on the emerging solar market, including thin-film solar success, in that part of the world.
China has strong government incentives for solar, such as a $2.70 per watt tariff and 50% participation in the costs of many solar projects in the country. This makes China an ideal source of products at competitive prices and gives Evolution the opportunity to engage in projects in other parts of the world.
The company is expected to take on new management as it begins to focus on China as a source of operations; it will also have a US subsidiary that will manage and supervise opportunities in the States.
“This step allows us to gain significant efficiencies in both serving the Chinese market and sourcing products for the United States,” stated Robert Kaapke, CEO of Evolution. “We expect our China office to drive rapid growth in the company in the months ahead.”