solar cell part 2
previous repeated wrongly

The market for solar panels in Europe and the United States slowed to a crawl in 2010, while the market in China grew at a rapid pace. Although the short-term prospects in the United States were modest, the longer-term prospects were substantial. Analysts anticipated a fivefold increase in the market for solar panels and related technologies over the next 5 years. For instance, General Electric, which was a major supplier of wind turbines, decided to become a major supplier of solar panels as part of its renewable energy strategy.

In April 2011, GE announced that it would build a solar panel plant with a capacity of 400 megawatts, making it the largest plant in the United States. GE’s announcement followed its acquisition of PrimeStar Solar, which according to the Department of Energy produced the highest efficiency thin-film solar panels. The long-run prospects for solar panels anticipated by GE were soon after confirmed as Total SA of France, the world’s sixth largest oil company, bought 60 percent of SunPower for $1.37 billion, representing a 40 percent premium above the company’s share price.

The actions by GE and Total represented good and bad news for other solar panel producers. The good news was that two huge companies were optimistic about the growth of the solar panel market in the United States and worldwide. The bad news was that solar power start-ups now faced two more large competitors with deep pockets and access to alternative technologies.