GE calls it: Solar cheapest energy form in 5 years
GE says solar may be cheapest energy form in five years.
There always has been a talk of solar energy being cost competitive with other power sources such as coal or gas. Now General Electric is jumping on the bandwagon.
While naysayers push that solar can’t exist without subsidies because it’s too expensive, GE’s Global Research Director Mark Little, believes that in five years solar will be cheaper than nuclear and forms of fossil fuel, according to an interview with Bloomberg.
Of course, GE’s got a pretty big dog in the solar fight after it pledged to build one of the largest solar panel manufacturing plants in the U.S. earlier this year, and of course, Arizona would love to have that here.
So would a lot of other places when you talk about a multimillion-dollar investment and hundreds or thousands of potential jobs. Colorado, home to the company GE bought that got them into thin-film panel manufacturing, also is making a play, as are likely several other states including Texas, New Mexico and Oregon.
Clearly, GE has a vested interest in getting people on board with solar, but in doing so it could undercut its own business, the one that builds nuclear reactors and gas turbines for utilities.
Perhaps it’s just GE seeing which way the wind is blowing. It’s big on wind, and now understands solar a bit better.
Read more in the Phoenix Business Journal.
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