Monday, March 8, 2010, 8:30am PST | Modified: March 8, 2010, 9:32 AM

Chinese solar companies see bright future in U.S. (San Francisco)

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Several Chinese companies will begin manufacturing solar panels in the United States this year, a move that places Chinese manufacturers close to American customers and qualifies them for state and federal incentives.

Suntech America, Yingli Green Energy Americas, and UpSolar—all Chinese companies with U.S. headquarters in San Francisco—are building or looking for manufacturing space in the U.S.

Solar-panel manufacturer Kyocera Solar, with U.S. operations based in Scottsdale, Arizona, also recently announced plans to open its first U.S. plant in San Diego for the same reasons.

In January, Suntech and Yingli were awarded $2.1 million and $4.5 million, respectively, through a $2.3 billion federal stimulus program for clean energy manufacturers, which required that they manufacture panels in the U.S. The California Energy Commission said $95 million of the $226 million it got from the American Recovery and Reinvestment Act will go to tax credits for clean energy manufacturers that locate in California. Other states, including Arizona, are offering portions of stimulus awards plus income, sales, and manufacturing tax credits for clean energy manufacturers.

Read the full story in Portfolio.com.