Schott Solar infuses New Mexico with 300 new green jobs

German company Schott Solar just opened a solar manufacturing facility in Albuquerque, New Mexico which will output photovoltaic modules that convert the sun’s light into energy. It will also produce receivers that solar thermal power plants use in harnessing solar heat.

Schott Solar claims that its funding is independent and so it’s sheltered from the credit woes affecting many other companies. The number of green jobs is expected to increase to 350 by the end of the year and could eventually turn over 1,000 jobs if the plant is successful. Company decision makers sited a couple of reasons for choosing New Mexico.

First, the company is focused on gaining a foothold in the budding U.S. solar market -- building a local manufacturing plant provides the foundation for that. Second, New Mexico provides an environment rich with sunlight and open spaces which means there will likely be local demand for its products.

An investment in a facility like this requires a longer term view of the economy, which CEO Gerald Fine confirms:

If you are going to make an investment in our industry, let's face, it's not for the faint hearted. You have to look a little past the first half of 2009 and think about the medium- and long-term prospects for the industry. Source: Reuters.

Plans for developing new business in the photovoltaic segment are much more volatile than solar thermal power because power plants require more planning and permits. Demand for photovoltaic components follows the success of the economy more closely because those types of projects are typically smaller scale.

Since most of the solar components are expected to be used in the U.S. it makes even more sense to establish a manufacturing base there. This is also an especially opportune time for Schott Solar because many of its competitors are waiting for stimulus money from the U.S. government.