GE to build the biggest solar panel plant in U.S.

GE is taking aim at the world’s biggest solar company in a bid to expand into a rapidly growing renewable energy market.

General Electric Co. announced Thursday that it would spend $600 million to build the nation’s biggest solar panel factory. It would build the same type of so-called thin film solar panels manufactured by First Solar, the biggest producer of solar panels in the world.

GE also announced Thursday that testing by a government laboratory showed that its panels set an efficiency record for this type of thin film panel, made from the elements cadmium and tellurium.

The company did not say where the factory would be built, but said it would eventually employ 400 people and be producing panels by 2013.

The plant would have the capacity to build 400 megawatts worth of panels per year, enough to power about 80,000 homes.

By comparison, First Solar will have 2,300 MW of capacity by the end of this year.

Chron