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Bloomberg has reported that General Electric (GE) will be putting the construction of its Colorado-based solar panel factory on hold for at least 18 months. Lindsay Theile, GE spokeswoman, noted that sharp price declines and a global oversupply of panels were factors in the company’s decision.
GE’s Aurora, Colorado site was going to make CdTe thin-film panels using technology developed by Primestar, which GE bought in 2011. The company initially planned to manufacture its models in Colorado and then use them for solar farms it would develop, or sell the panels to other developers. Thiele noted that while plans for construction will remain on hold for the better part of a year, GE aims to continue improving its thin-film technology.
Reports of GE’s intent to cease construction plans in Colorado initially broke last week. The company is one of several that in the past few months have decided to suspend plans for solar panel manufacturing facilities. In April, First Solar announced plans to shut down its German factory by the end of this year and freeze work on a new factory it had planned in Arizona.