A successful renewable energy company is creating more Phoenix AZ jobs.

Power-One, Inc. has opened a new manufacturing plant in Phoenix that will eventually employ about 350 people. This is the company’s first manufacturing facility in North America. Power-One is the second-largest producer of power inverters in the renewable energy industry.

The company chose Phoenix as the location for its new facility because of the area’s strong workforce; access to intellectual resources at Arizona State University; and strong support from Gov. Jan Brewer, the Arizona Commerce Authority, the City of Phoenix, and the Greater Phoenix Economic Council.

“Power-One is excited to open its manufacturing and research and development center in Arizona, as we bring more jobs to the United States and establish our North American renewable energy footprint,” Richard Thompson, president and CEO of Power-One, said in a statement. “We view the opportunity to open new markets in the U.S. and abroad, as well as to introduce new technologies, as key drivers to our future success.”

Employees at the company’s new plant will produce photovoltaic and wind inverters that convert renewable energy into usable electricity. The energy generated at the facility will be enough to power up to 2 million homes.

During 2010, Power-One became the second-largest seller of photovoltaic inverters, seeing significant growth in revenue and market share. The company’s presence in the Phoenix area is already helping to expand the local renewable energy supply industry, attracting such companies as FAIST GreenTek LLC.

Other companies should follow suit in the coming years, as IMS Research predicts that the photovoltaic inverter market will increase by 25 percent each year, with about 7 million inverters being sold by 2014.

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