Wednesday, June 24, 2009
China Energy company "All in" on Solar Energy
Well, it seems as though China power company GCL-Poly is attempting to overtake its US competitors in Solar power, to the tune of 3.4 billion dollars! The interesting thing about this deal is that GCL-Poly is buying Jiangsu Zhongneng PV Technology Development (yeah, try saying that 5 times fast). Why is this interesting? Because JZ PVT builds solar panels, and this deal will allow GCL-Poly to control the whole process of solar power manafacturing, from building solar panels to putting them into a functional power grid. Smart move, because not only will GCL-Poly be able to control their product, but it cuts down on costs for the company since they wont have to outsource the building of the panels to another company (and hopefully, means lower costs for the consumer). Lets see if US companies can play catch-up to GCL-Poly's power play.