California, United States [RenewableEnergyWorld.com] GE Energy Financial Services has announced that it is part of a group that plans to provide Soliant Energy with nearly US $21 million in venture capital. GE Energy Financial Services announced at Solar Power International in San Diego that it is investing US $2.5 million in Soliant through its ecomagination program.
The company is developing what it says could be the most efficient and lowest cost technology to generate electricity from the sunlight on commercial rooftops, a market it estimates will reach US $13.2 billion by 2010. GE estimates that commercial and industrial buildings comprise 60 percent of the total roof area in the United States.
Soliant’s goal is to deliver commercial building owners the highest return on their solar investment. The company plans to open a 40-megawatt production plant late next year.
GE’s vote of confidence in Soliant’s technology adds to Soliant’s development efforts, which are supported by the U.S. Department of Energy (DOE). DOE is providing the company with US $4 million as part of the government’s Solar America initiative designed to spur innovation in solar power.