China now represents nearly two thirds of the world's solar equipment production, a growing industry that's known for attracting entrepreneurs and new investment from other fields. Take China Era Group, a Taizhou, Zhejiang-based manufacturer of pipes and fittings.
The 30-year-old company started its solar business five years ago, when the market was just starting to boom, according to a Jiefang Daily report from the recent SNEC 2011 exhibition.The decision was intuitive, general manager Mr. Su Chengfeng said, as Era noticed the soaring electricity cost with more than 2,000 injection molding presses that he called "power guzzlers." The company made the move to invest in the future of alternative energy.Another important reason to add the solar division was that Era was able to sell these high value-added products to its pipe business' established customers -- real estate developers and government buyers.The solar business helped Era stay active during the financial crisis, when demand for building products declined.Era owes its success partly to government support. Last year, it received 10 million yuan of subsidy -- which covered a third of the cost -- to install 1 trillion watts of solar panels on the roof of its factory buildings. The SNEC show organizer told the Jiefang Daily that a large portion of the 1,838 exhibitors had previously worked in other sectors, including toys, footwear, and building products.