It's About Time

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It's About Time

Postby ~jeff~ » Thu Apr 07, 2011 6:58 pm

GE Unveils Plans For US Thin-Film Solar Panel Factory

General Electric Co. (GE) is aiming to build up its nascent solar energy business on a scale of its $6 billion wind-turbine unit, announcing plans Thursday for what it said will be the biggest photovoltaic panel factory in the U.S.

"We're looking to make solar look like [GE's wind business] over the next five years," said Victor Abate, vice president of GE's renewable energy division.

GE, based in Fairfield, Conn., will pick a site for the factory within the next three months or so, Abate said in an interview.

The plant will employ 400 people when it opens in 2013 and produce thin-film solar panels sufficient to generate 400 megawatts of electricity annually, or enough to power 80,000 homes a year.

SolarWorld AG (SMW.XE), of Germany, currently operates the largest solar manufacturing plant in the U.S., producing panels capable of generating about 350 megawatts annually, although GE's panels will be based on a different technology.

Abate said GE will have invested $600 million in solar technology and commercialization by the time the new panel factory opens. The sum includes its acquisition of Colorado-based PrimeStar Solar Inc.--in which GE has held a majority stake since 2008 but completed Tuesday--as well as internal research efforts and the cost of the factory.

"We wanted to get to a technology leadership position before we scaled" up the business, Abate said.

He also said technology from French power-conversion company Converteam, which GE is in the process of buying, will complement GE's solar effort by providing utilities and other customers with "turn-key" solutions for converting sunlight to grid-ready electricity. Last week, GE announced a $3.2 billion deal to buy most of Converteam.

The National Renewable Energy Laboratory, part of the U.S. Energy Department, has measured a 12.8% efficiency rating for the thin-film solar panels produced by PrimeStar, a record for the technology.

Some conventional solar panels are more efficient at converting sunlight to electricity. But GE contends its technology is cheaper, and it also said it expects to improve the performance.

Abate declined to disclose GE's current revenue from the solar sector, although he called the figure relatively small. Still, he said he expects GE's solar effort to evolve along the lines of its wind-turbine operation, which had "a couple hundred million dollars" in revenue in 2002 but has grown to an estimated $6 billion annual business.

GE said Thursday that it already has about 100 megawatts of new orders for solar panels based upon the thin-film technology, including a 60-megawatt order from utility NextEra Energy Inc. (NEE).

Global demand for solar panels and related technology is expect to grow to 75 gigawatts over the next five years, from about 15 gigawatts this year and 2 gigawatts in 2007.

Meanwhile, Abate said a number of factors will determine site selection for GE's new panel factory, including the availability of state and local tax incentives.

GE's anticipated low overall federal income tax bill for 2010 has recently become a high-profile controversy, but Abate said the issue won't have a bearing on the factory site.

"We're going to put the factory where it makes the most economic sense" for GE, he said. "Clearly, [the availability of various tax incentives] will go into that," as will issues such as proximity to existing GE facilities and other resources.

GE shares were down 0.8% recently at $20.39.
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Postby ~jeff~ » Thu Apr 07, 2011 7:19 pm

It's good to see an American company finally make a substantial commitment here.

Just about every alternative energy product and contractor available in the USA are from other countries.

I guess we're just a little slow at catching on..


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Postby Todd » Thu Apr 07, 2011 9:25 pm

~jeff~ wrote:It's good to see an American company finally make a substantial commitment here.


GE is about American as Adolph Hitler. They have been ignoring US & UN sanctions against Iran for years, selling them products that could eventually help further their nuclear hopes.

Last year (2010) GE made $14,000,000,000,000 in PROFIT, that is 14 BILLION dollars in profit, and didn't have to pay one single dollar in income tax this 2011 tax filing.

I guess it's probably coincidence that GE's President is great friends and dinner companions of the Obama's. In fact GE helped get Obama elected with their 100% positive coverage of him on GE owned NBC. So, I guess that makes this particular "Big Business" okay...
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Postby ~jeff~ » Fri Apr 08, 2011 1:48 am

Todd wrote:
Last year (2010) GE made $14,000,000,000 in PROFIT, that is 14 BILLION dollars in profit, and didn't have to pay one single dollar in income tax this 2011 tax filing.


Thats because they didn't make most of that money in the USA, their an international company. But one day our government will figure a way to tax the world.

The rich scream bloody murder at the mention of raising the taxes of the top earners, Remember back during the Obama campaign? The stupid left kept chanting tax the rich, and Obama wanted to jack-up the taxes for top earners and lower taxes for the little guys? Well that idea didn't get too far... All the right wingers called that idea socialism, you know taking from the rich, giving to the poor, re-distribution of riches, blah, blah, blah.
So now we live with the results.

Don't believe for a moment GE is alone in this game, most all huge money earners pay little to nothing in taxes.

GE is simply Obamas Halliburton...

GE builds green power related stuff for Obama, Halliburton rebuilds war torn countries for GW...

Heck, why do you think Cheney moved Halliburtons headquarters from Texas to Dubai after they scoffed up all those government contracts? There are NO corporate taxes and NO taxes on employees in Dubai. Halliburton earned 18 billion in 2010 and unlike GE most of that was our tax dollars and they are now sheltered from paying any taxes on earnings due to not operating in the USA.

The truth of the matter though GE isn't just not paying any taxes in the USA this year, we'll be paying them due to tax breaks and credits the rich are entitled to due to current rules and laws. I think that kinda stuff had a lot to do with Obama wanting to tax the rich some more to compensate for their available deductions and shelters.

Mean while, back at the ranch. GE is pouring it's ill-gotten gain into a huge plant thats gonna build some really cool stuff and employ more Americans. But I'll grant you there are gonna be huge flippin' tax credits for doing something green for Obama, so look for GE to be more than able to enjoy untold tax credits next year too.

I just hope the Obama don't ever pick up the check when him and the GE brass are wine'in, and dine'in....
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Postby Todd » Fri Apr 08, 2011 3:31 am

~jeff~ wrote:Thats because they didn't make most of that money in the USA, their an international company. But one day our government will figure a way to tax the world..


That is the funniest excuse I have ever heard. Because only 5 BILLION dollars profit of an American companies profit came from the USA, they shouldn't have to pay taxes?

~jeff~ wrote: The rich scream bloody murder at the mention of raising the taxes of the top earners, Remember back during the Obama campaign? The stupid left kept chanting tax the rich, and Obama wanted to jack-up the taxes for top earners and lower taxes for the little guys? Well that idea didn't get too far... All the right wingers called that idea socialism, you know taking from the rich, giving to the poor, re-distribution of riches, blah, blah, blah.
So now we live with the results...


What Democrats have shown time and time again, is that they want to tax the top earning REPUBLICANS, while dodging taxes for themselves and their rich friends.


Obama's ideas are socialist and he admits it. And like most democrats he is a hypocrite. He thinks the government can best determine how a citizens money should be spent, yet he never voluntarily pays in the 40% he thinks people in his bracket should pay, he only pays the 33% required. He these ideas are so great, why doesn't he and other democrats lead by example and donate that other 7%?


~jeff~ wrote: Don't believe for a moment GE is alone in this game, most all huge money earners pay little to nothing in taxes.

GE is simply Obamas Halliburton...

GE builds green power related stuff for Obama, Halliburton rebuilds war torn countries for GW...


What GE does is provide aide to our enemies.

What Halliburton does is help protect this country at a time when Democrats have lead us into 3 wars at the same time. The Democratically controlled congress voted us into wars in Iraq and Afghanistan and Obama took it upon himself to invade Libya, ignoring congress altogether. My guess is Halliburton will reap some financial rewards from Obamas latest war as well, but I doubt they will be scrutinizing that on CNN or ABC.


~jeff~ wrote: Heck, why do you think Cheney moved Halliburtons headquarters from Texas to Dubai after they scoffed up all those government contracts? There are NO corporate taxes and NO taxes on employees in Dubai. Halliburton earned 18 billion in 2010 and unlike GE most of that was our tax dollars and they are now sheltered from paying any taxes on earnings due to not operating in the USA...


That is the whole freakin point Jeff! Democrats are driving companies out of the country. Particularly Republican companies. When you raise a companies taxes you are basically kicking that business owner in the nuts and making it harder for him to stay in business. Why would someone want to stand around and get kicked all day when they can simply move to a friendlier place operate.


~jeff~ wrote: Mean while, back at the ranch. GE is pouring it's ill-gotten gain into a huge plant thats gonna build some really cool stuff and employ more Americans...


A LOT of businesses build "cool" stuff. And a lot of those same businesses can't make a profit at it. But, it sure is cool while the custom designed tax incentives hold out for one of Obamas biggest contributors.

~jeff~ wrote: I just hope the Obama don't ever pick up the check when him and the GE brass are wine'in, and dine'in....


He doesn't, the tax payers do. He does get an envelope under the table though....
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Postby ~jeff~ » Fri Apr 08, 2011 10:33 am

Todd wrote:
~jeff~ wrote:Thats because they didn't make most of that money in the USA, their an international company. But one day our government will figure a way to tax the world..


That is the funniest excuse I have ever heard. Because only 5 BILLION dollars profit of an American companies profit came from the USA, they shouldn't have to pay taxes?


No, it's why they didn't get taxed on 9 billion of the 14 billion you stated to start with. Can't tax them on what they didn't make here...yet.

Todd wrote:
~jeff~ wrote: The rich scream bloody murder at the mention of raising the taxes of the top earners, Remember back during the Obama campaign? The stupid left kept chanting tax the rich, and Obama wanted to jack-up the taxes for top earners and lower taxes for the little guys? Well that idea didn't get too far... All the right wingers called that idea socialism, you know taking from the rich, giving to the poor, re-distribution of riches, blah, blah, blah.
So now we live with the results...


What Democrats have shown time and time again, is that they want to tax the top earning REPUBLICANS, while dodging taxes for themselves and their rich friends.


Sorry, your Democrat vs Republican tax conspiracy hurts my head to try and grasp,,I think wearing a tinfoil hat may help and I'm fresh out of them.


Todd wrote:
~jeff~ wrote: Heck, why do you think Cheney moved Halliburtons headquarters from Texas to Dubai after they scoffed up all those government contracts? There are NO corporate taxes and NO taxes on employees in Dubai. Halliburton earned 18 billion in 2010 and unlike GE most of that was our tax dollars and they are now sheltered from paying any taxes on earnings due to not operating in the USA...


That is the whole freakin point Jeff! Democrats are driving companies out of the country. Particularly Republican companies. When you raise a companies taxes you are basically kicking that business owner in the nuts and making it harder for him to stay in business. Why would someone want to stand around and get kicked all day when they can simply move to a friendlier place operate.


Or in other words, if my company turns a profit of billions of dollars why hang out in a country that wants to charge me ANY taxes at all when there are tax shelters around the globe....

Building cars in Mexico worked so well for Ford they didn't even have to take a government bailout like the other car manufactures in this country and everyone thinks their the bomb for it...

I have my doubts Halliburton was ready to fold due to taxation, they simply increased their profit margin by moving to a tax sheltering country such as Dubai, thats called greed, not survival.

But they don't have no problem soaking us for our hard earned tax money and they are holding binding contracts that will line their pockets for years to come.

But that nothing new for Halliburton, they have been spreading corruption around the globe for years.

see: http://www.halliburtonwatch.org

~jeff~ wrote: Mean while, back at the ranch. GE is pouring it's ill-gotten gain into a huge plant thats gonna build some really cool stuff and employ more Americans...
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