TSMC will extend employment offers to all employees currently working at TSMC Solar in Taiwan upon the closure of its fab, located at Central Taiwan Science Park in Taichung. TSMC Solar’s late entry to the market and lack of economies of scale led to a substantial cost disadvantage, a press release states. After careful consideration, the company has come to the conclusion that TSMC Solar will not be viable even with the most aggressive cost reduction plan. “TSMC continues to believe that solar power is an important source of green energy and that solar module manufacturing remains a robust and growing industry, but despite six years of hard work we have not found a way to make a sustainable profit,” said Dr. Steve Tso, Chairman of TSMC Solar and Senior Vice President of TSMC. “Upon ceasing manufacturing operations at TSMC Solar, our most important concern will be the continued employment of our workers there.” Remaining solar panel inventory will be installed at TSMC buildings and facilities.