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General Electric and 3M Make Big Investments in Solar

Posted on the 12 April 2011 by 2ndgreenrevolution @2ndgreenrev

General Electric and 3M Make Big Investments in SolarOn occasion my dad forwards me newsletters that he gets regarding energy and clean technology. The most recent one dealt with General Electric’s (GE) foray into solar energy production. The multinational conglomerate recently completed the purchase of PrimeStar Solar in Arvada, Coloardo, just outside Denver. According to their website, “PrimeStar Solar is a manufacturer of high performance thin film photovoltaic (PV) modules. . . . Our thin film PV modules will use a fraction of the raw materials and will require far less energy for manufacturing than conventional crystalline silicon PV.”

The New York Times reported last week that GE “it will build the nation’s largest photovoltaic panel factory, with the goal of becoming a major player in the market.” The newsletter forwarded to me, Oil and Energy Investor, stated the facility “will cost in excess of $600 million to construct, with first production beginning in 2013. The company says it already has in hand orders for more than 100 megawatts of panel production.” Kent Moors, author of the newsletter, also mentioned steps that Minnesota, Mining, and Manufacturing (3M) has taken in the area of solar technology. He states that 3M “plans to build a solar manufacturing facility in China, with construction set to begin in the second quarter of this year.” The facility will produce “a product called Scotchshield™ – a film that protects the back sides of solar photovoltaic (PV) modules from moisture and contamination.”

Disclosure: One or more members of 2nd Green Revolution owns shares in one or more of the companies mentioned in this story.

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