08 Jul '12, 7am

GE's solar panel factory on hold

GE has put on hold plans for construction of a solar panel factory in Colorado, slated to be the largest in the country. When it announced construction plans last October, GE had said it anticipated the facility to start up earlier than expected, with the first panels coming off the line in 2012 and commercial availability in 2013. At capacity, GE had said, the Aurora, Colo., factory would produce 400 megawatts a year, enough panels to power 80,000 homes. The factory was to employ 355 people. GE's solar initiative is yet another casualty of the steep drop in prices of solar panels amid an oversupply of panels in the global market. News of the construction postponement follows last week's bankruptcy announcement of Colorado-based Abound Solar, recipient of a $535 million U.S. Department of Energy loan guarantee. Abound was GE's competitor in thin-film cadmium telluride -- o...

Full article: http://www.solardaily.com/reports/GEs_solar_panel_factory...

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