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GE to build largest US solar factory

By corntrollio follow corntrollio   2011 Oct 13, 11:00am 5,015 views   7 comments   watch   nsfw   quote   share    


Funny how whenever GE or another big companies moves a portion of their business abroad, particularly manufacturing, someone feels the need to point it out here ASAP as fitting their circular ideology. When one of these companies builds manufacturing here, it's apparently silence from the peanut gallery:

http://finance.yahoo.com/news/GE-to-build-large-solar-panel-apf-1072600519.html

Vic Abate, who runs GE's renewable energy business, said in an interview Thursday GE expects to push solar panel prices down ever further, and will profit as it does so. He said the company has had similar experiences with wind and other energy technologies.

"It's a challenging industry for sure, but the cost of solar had to come down for it to become a mainstream power source," he said.

The factory will be built without federal subsidies, he said. Abate said Aurora was picked because it had large facility available and it is close to GE's test manufacturing line.

The factory, which will be bigger than 11 football fields, will have an annual capacity of 400 megawatts. That's enough to supply electricity to about 80,000 homes.

#energy

1   TPB   ignore (3)   2011 Oct 13, 11:32am     ↓ dislike (0)   quote   flag      

Immelt also liked the speech.

“Because more than two million construction workers are out of work, the Council identified ten high-priority infrastructure projects based on their potential to put Americans to work right away -- projects that have already been funded, but are being held up by regulations. We are working with the Administration to fast-track permitting and get these projects moving. There is broad support within the Council and the business and labor communities for investing in our nation's aviation, broadband, surface and energy systems, including improving existing financing mechanisms for our critical infrastructure needs,” Immelt said in statement provided by the White House.

The quandary for Immelt, GE and the White House is how much General Electric might benefit from government spending and subsidies, whether Obama proposed tax changes might eliminate loopholes enjoyed by GE and other businesses and if there is any continued fallout from GE’s marriage to China on the aerospace front that count hurt Boeing and U.S. jobs. Boeing has military helicopter manufacturing in Mesa and there is an ample aerospace supply chain in Phoenix that could be hurt if airplane business headed to China.

...wait! Did you say solar panels? The green stuff?

Oh well that's different, never mind. None of that other stuff that just happened on September 9th, doesn't matter then. Carry on.

2   Vicente   ignore (0)   2011 Oct 13, 11:36am     ↓ dislike (1)   quote   flag      

Quote:

"But G.E. won’t be applying for federal loan guarantees like Abound Solar. Instead, they plan to explore state and federal manufacturing tax credits to expand as needed."

So instead of loans, it'll be "tax credits". I'm not seeing the difference here from Solyndra or any large solar operation dependent on the "federal teat" as conservatives like to call it.

3   terriDeaner   ignore (1)   2011 Oct 13, 12:58pm     ↓ dislike (0)   quote   flag      

Wonder why they chose a site near Denver instead of elsewhere in the southwest or west coast... elevation?

4   Vicente   ignore (0)   2011 Oct 13, 1:55pm     ↓ dislike (1)   quote   flag      

Well there's lots of places you can put a manufacturing plant. But you want one where optimally the local taxpayers can be put on the hook for ALL of your infrastructure. Get them to take out bonds, build out an industrial park area, hand you the factory, even supply your utilities at cut rates. Then 5-10 years down the line you can close the plant and move operations somewhere else gullible.

5   terriDeaner   ignore (1)   2011 Oct 13, 1:59pm     ↓ dislike (0)   quote   flag      

Good point Vincente, I should have read more carefully - solar panel plant, not solar power plant.

6   corntrollio   ignore (1)   2011 Oct 14, 3:49am     ↓ dislike (1)   quote   flag      

Vicente says

So instead of loans, it'll be "tax credits". I'm not seeing the difference here from Solyndra or any large solar operation dependent on the "federal teat" as conservatives like to call it.

Sure, but read my counterpoint thread.

The US Chamber of Commerce is completely about welfare, as long as it goes to big corporations.

7   HousingWatcher   ignore (4)   2011 Oct 15, 5:05am     ↓ dislike (0)   quote   flag      

In other words, instead of accepting govt. welfare from the right hand, GE will be accepting it from the left hand.


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