Samsung recently announced that it will invest more than $20 billion in clean energy technologies between now and 2020, including the development of solar cells, light emitting diode (LED) technologies, and rechargeable cells for hybrid electric vehicles.
"Governments around the world are now investing in green industries to address the issues of depleting energy resources and the protection of our planet's environment, which present pressing challenges to the global community," said Kun-Hee Lee, Samsung electronics chairman.
Along with creating as many as 45,000 jobs in the next decade, Samsung also projects that investing in this area will contribute substantially to its bottom line by 2020.
As far as the solar panels go, Samsung is initially focusing on the development and manufacture of crystalline silicon solar cells, and will later place more of an emphasis on thin film technologies. The company's solar efforts alone are expected to result in 10,000 new jobs by 2020.
