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00:00YEAR. WHAT DOES THAT MEAN FOR YOUR BUSINESS AND THE SOLAR BUSINESS GENERALLY? >> THE IDC EXPIRATION IS A CATALYST FOR BUSINESS IN THE NEAR TERM. WE ARE SEEING UTILITY SCALE MOTHER IS A LOT OF PROJECTS NEED TO COMPLETE IN THE NEXT FIVE ORDERS. WE WILL SEE THAT IN COMMERCIAL AND RESIDENTIAL. IN THE LONGER TERM, WHEN YOU GET 17, WE EXPECT A "BREEDER" IN THE U.S. MARKET -- "BREATHER" IN THE U.S. MARKET. DAVID: I UNDERSTAND YOU ARE LOOKING AT NEW OPPORTUNITIES IN CALIFORNIA. A REENGINEERING OF YOUR BUSINESS MODEL THERE. IF THERE IS THIS BREATHER, HOW WILL YOU POSITION YOURSELF FOR THE MARKET? TOM: WE SEE POLICY CHANGES IN ENERGY AND ELECTRICITY MOVING TOWARDS OPEN ACCESS TO THE GRID AND TO BEING A GOOD CITIZEN OF THE GRID. THAT MEANS FOR SOLAR, WE NEED TO ADD STORAGE AND ENERGY MANAGEMENT. SINCE WE LOOK OVER THE NEXT 3-5 YEARS, SON POWER BECOMES MORE OF AN ENERGY COMPANY. -- SUNPOWER. WHEN WE LOOK INTERNATIONALLY , IT IS STILL ABOUT LARGE-SCALE POWER PLANTS. WE HAVE A GREAT PRESENCE IN CHINA, GREAT PRESENCE IN AMERICA IN SOUTH AFRICA AND JAPAN. WE ARE IN THE RIGHT MARKETS. WE CAPITALIZE -- IT OWNS 6 OUR STOCK. WE ARE WELL-POSITIONED TO EXCEL IN OTHER PARTS OF THE WORLD AND WE JUST ADDED A NEW PRODUCT WE THINK WORKS PARTICULARLY WELL IN THOSE PARTS OF THE WORLD THAT HAVE A HIGHER COST OF CAPITAL. WE HAVE ACCESS TO OUR CHANNELS AND WE GET THE EXPERIENCE IN THE MAIN MARKETS. DAVID: WHEN YOU LOOK AT ADOPTION RATES AND INTEREST IN SOLAR POWER, HOW ANOMALOUS IS CALIFORNIA? IS IT DIFFICULT TO GET PEOPLE OUTSIDE OF THAT STATE TO CONSIDER SOLAR POWER? TOM: IT IS ANOMALOUS IN WE ARE APPROACHING 30% OF THE ELECTRICITY COMES FROM RENEWABLES. WE ARE ON OUR WAY TO 50%. THAT IS A WORLD RECORD. I WOULD ARGUE IT IS A LEADER AND IT PROVES THE MAINSTREAMING OF RENEWABLES WORKS. JAPAN, SOLAR IS MAINSTREAM. AND THE MOST ECONOMIC. ITALY, HAWAII, YOU WILL SEE THAT HAPPENING IN CHILE. IF YOU COMBINE ALL OF THAT, WE ARE SEEING THE MAINSTREAMING OF SOLAR. THAT IS A BIG DISRUPTIVE AND NOT ALWAYS LINEAR. THE OVERALL TREND IS VERY CLEAR AND THE OPPORTUNITY HERE IS MASSIVE. DAVID: THANK YOU SO MUCH. TOM WERNER, THE CHAIRMAN AND CEO OF SUNPOWER EMERGING-MARKET BONDS HAVE BEEN CRUSHED THIS YEAR BY THE STRONG DOLLAR.

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