DuPont Meets $1 Billion Solar Sales Goal a Year Early

DuPont Co., the third-biggest U.S. chemical maker, said sales from photovoltaic materials will top $1 billion in 2010, one year ahead of its forecast.

Materials including encapsulates and metallization pastes will help sales to the solar-power industry reach $2 billion by 2014, Dave Miller, president of the electronics and communications unit, said today on a webcast. Pretax operating income in the unit will rise to 16 percent to 18 percent of sales this year, from 6 percent last year, he said.

DuPont, led by Chief Executive Officer Ellen Kullman, is building factories and developing products to meet growing demand for materials used to convert sunlight into electricity. The U.S. will overtake Germany to become the top installer of solar cells around 2014, about the same time photovoltaics will become as efficient as conventional energy sources, negating the need for government subsidies, he said.

“When this market reaches grid parity, who knows where this thing goes,” Miller said. “We are well positioned for growth in the PV market.”

DuPont, based in Wilmington, Delaware, fell 21 cents to $44.62 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have gained 33 percent this year.