Business & Finance
Business and Finance
Business and Finance
Tue, October 12, 2010 GE Expands Solar Portfolio, Solidifying Position as Renewable Energy Industry Leader
LOS ANGELES--([ BUSINESS WIRE ])--GE (NYSE: GE) today announced several additions to its growing portfolio of technologically advanced solar products and services. New solar thin film panel, system and inverter products will enhance GEa™s ability to provide a complete range of offerings for use in multi-megawatt (MW) projects globally.
"The dramatic transformation and growth that has occurred in the wind industry has taught us a lot about what it takes to succeed in the renewable energy sector"
As one of the leading providers of renewable energy products and services, GE is committed to offering best-in-class technology at the lowest cost of electricity. Since 2002, GE has established itself as a global leader in the wind industry, installing more than 21 gigawatts of wind turbines around the world.
aThe dramatic transformation and growth that has occurred in the wind industry has taught us a lot about what it takes to succeed in the renewable energy sector,a said Victor Abate, vice president of renewable energy for GE Power & Water. aOur strategy in wind and solar is to deliver best in class technology that drives performance and reliability improvements in order to offer our customers the best total value.a
GE has spent the last several years working to develop its solar portfolio. The company took a look at the biggest barrier for adoption of solar technology a" cost a" and built its portfolio around the goal of offering the lowest cost of electricity in the industry. GEa™s robust solutions for every part of the solar system are backed by GEa™s technical depth and are supported by GEa™s global service network. GEa™s solar product portfolio includes:
- Thin Film Solutions: GE is announcing two commercially available thin film products. Working together with PrimeStar Solar, Inc., GE has made significant advancements in the commercial development of a cadmium telluride (CdTe) thin film product. Panels from PrimeStara™s 30-MW manufacturing line in Arvada, Colo., will be commercially available in 2011 and plans are underway to ramp up capacity.
GE also announced that it has entered into a technical and commercial agreement with Solar Frontier, a subsidiary of leading Japanese energy business Showa Shell Sekiyu, K.K., whose 900-MW factory will come online in early 2011. Available now, GE is offering the thin film panels individually and as a part of GEa™s optimized system. In addition, GE is providing its power plant expertise to enhance Solar Frontiera™s CIGS technology for use in utility scale solar installations.
- Brilliancea" Solar Inverters: Based on the proven power conversion unit employed in GEa™s 14,000 1.5-MW wind turbines world-wide, GEa™s 700 kilowatt and 1-MW solar inverters offer unparalleled reliability and proven performance. The Brilliancea" inverter comes enabled with SunIQa", GEa™s monitoring and controls platform of grid-friendly features that allow a large-scale solar system to operate similar to a conventional power plant.
- Utility Scale Solar Plants: GEa™s system solution focuses on delivering the lowest cost of energy and includes the Brilliancea" solar inverter technology, components matched for optimized installation and grid integration and GEa™s thin film technology. GEa™s standard design is easily scalable and is available in both 700 kW and 1-MW power blocks.
aWith these competitive solar solutions, GE is establishing itself as the global leader in the renewable energy space,a said Abate. aIn addition to offering leading technology, GE can also offer the unique bankability that comes with one of the worlda™s leading brands.a
With more than one billion dollars already invested, GE continues to grow its portfolio of renewable energy products and services. The company has brought together world class expertise from across its four Global Research centers to drive the next generation of solar products. This effort already has produced significantadvancements in the thin film space.
aWe believe that thin film offers the best characteristics for continued advancements in efficiencies and materials,a said Danielle Merfeld, GEa™s solar research and development leader. "We recently celebrated a milestone when our CdTe cell efficiencies topped 15 percent on commercial glass. With continued advancement, we know we can further reduce total installed system costs, making solar more accessible to consumers worldwide.a
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the worlda™s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at [ www.ge.com ].
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy [ www.ge.com/energy ] is one of the worlda™s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energya"GE Power & Water, GE Energy Services and GE Oil & Gasa"work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
