GE (NYSE: GE) today announced that a full-size, thin film solar panel developed by the company has been independently certified as the most efficient ever publicly reported for the technology.
GE intends to manufacture the record-setting solar panels at a new U.S. factory that will be larger than any existing solar panel factory in the country today. When complete, the factory will represent a $600 million plus investment by GE in solar technology and commercialization and will be complemented by the recently announced acquisition of power conversion company Converteam.
In addition, GE has completed the acquisition of PrimeStar Solar, Inc., a thin film solar technology company in which GE has held a majority equity stake since 2008. Photovoltaic solar is the next step in growing GE's renewable energy portfolio and is part of the company's ecomagination commitment to drive clean energy technology through innovation and R&D investment.