PATRICK-MURRAY ADMINISTRATION HIGHLIGHTS GROWTH OF SOLAR INDUSTRY WITH VISIT TO SOLAR INVERTER MANUFACTURER
Massachusetts jobs in solar manufacturing, installation and service nearly tripled since 2007, survey shows
The Patrick-Murray Administration's support for solar power, spurred by Governor Patrick's goal of 250 megawatts (MW) installed by 2017, has catalyzed the growth of a vibrant solar industry in Massachusetts. According to a recent survey of clean energy companies conducted by the Massachusetts Clean Energy Center (MassCEC), employment in solar manufacturing, installation and services has nearly tripled since Governor Patrick first took office, from 1,200 jobs in 2007 to roughly 3,000 expected by the end of 2010. Solar manufacturing jobs alone have jumped from 750 in 2007 to 2,000 in 2010.
"Under Governor Patrick's leadership, Massachusetts has seen impressive growth in the clean energy industry," said Secretary Bowles. "Solar companies like Satcon are creating jobs and helping Massachusetts secure its place as a national clean energy leader."
Satcon (NASDAQ CM: SATC) is a provider of utility-grade power conversion equipment for the renewable energy market. Satcon inverters convert DC current generated by solar panels and fuel cells into AC current. In the past year, Satcon has launched three new innovative solar technologies, including Satcon Solstice - the industry's first complete power harvesting and management solution for utility-scale solar power plants. Among Massachusetts projects, Satcon has provided inverters for the 425 kW Brightfields ground-mounted solar installation in Brockton, Alpha-Grainger Co.'s 425 kW rooftop installation in Franklin and the 197 kW solar "tree" system at Logan International Airport's Terminal B parking facility.
Satcon is in the midst of rapid expansion. The company has seen a 224 percent increase in sales in the first nine months of 2010 compared with the same period in 2009, and recently announced that it raised $37.5 million in a public offering of common stock to fund its strong growth driven by the robust demand for its inverter solutions. The company has grown from 28 employees in Boston at the beginning of 2009 to 140 today, and expects to add 20 more over the next three months. The company plans to employ over 300 in Boston by 2012.
"As a local company, founded on MIT talent, Satcon has been a leader in solar innovation since 1992 and has experienced firsthand the growth in clean energy that Governor Patrick's Administration has brought to Massachusetts," said Steve Rhoades, Satcon's President and Chief Executive Officer. "Through this initiative, we have powered some of the Commonwealth's largest and most innovative solar projects, and we look forward to continuing to support the state in its goals toward clean energy production."
Solar PV projects assisted by Commonwealth Solar rebates, as well as solar installations supported by federal stimulus funds on water treatment facilities and other public buildings plus solar installed by electric utilities, will bring the state to more than 60 MW of solar power installed or under contract by the end of 2010, up from 3.5 MW when Governor Patrick took office. In 2010, Massachusetts launched a Solar Credit (SREC) program for solar PV installations of up to 6 MW, which is designed to support development of 400 MW of solar PV.For an online map showing the growth of solar power in Massachusetts, go to www.masscec.com/index.cfm/cdid/11663/pid/11150.