GE announced last week that it plans to build a new $600 million solar panel factory in Aurora, Colo. When completed, the manufacturing facility will be larger than any existing solar panel factory in the country today. GE anticipates the new factory, which will employ 355 people in Colorado, will begin producing its first panels in 2012 with commercial availability in 2013.

The new factory will use an existing building in Aurora, just east of Denver, and near GE Energy’s existing solar “center of excellence,” including a thin-film solar pilot line where joint technology advancements from GE’s Global Research Center and PrimeStar Solar have been validated and tested. GE completed the acquisition of PrimeStar earlier this year.

When finished, the new facility will be larger than 11 football fields and will produce enough panels per year to power 80,000 homes.

“Working with our Colorado-based solar team, we were able to achieve record efficiencies in our solar panels in record time,” said Victor Abate, vice president of GE’s Renewable Energy business. “The Colorado location will allow us to deliver our technology roadmap faster and commercialize industry-leading panel efficiencies sooner. We also look forward to continuing to build our relationships with Colorado’s local, state and federal officials who have been extremely helpful as we moved through the site selection process.”

Solar panels produced in GE’s new Colorado factory will be more efficient, lighter weight and larger than conventional thin film panels, the company claims. Higher efficiency is a key component of GE’s commitment to offer advanced solar products while reducing the total cost of electricity for utilities and consumers, it said in a press release announcing the new plant.