[AZ Republic, Aug. 6] Tempe-based First Solar Inc. said Tuesday it bought the intellectual property of competitor General Electric for $83.8 million in stock, and plans to partner with the company to develop its solar panels cheaper and with a higher capacity to generate electricity. First Solar faced a well-funded competitive threat when General Electric bought a smaller rival called PrimeStar Solar in 2011. GE soon announced it would begin manufacturing solar panels in Colorado using the same materials that make First Solar’s the least expensive in the industry. First Solar uses a semiconductor of cadmium telluride to turn sunlight into electricity. Traditional solar panels use silicon to make electricity. Its “thin-film” solar panels are lighter and thinner than traditional solar panels, but they also make less electricity per square foot, so they require more space. First Solar executives said they expect a quick payback on the investment.
Posted on: Tue, 13 Aug 2013 17:07:56 +0000
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