General Electric invests in thin-film solar tech

NISKAYUNA, N.Y.

General Electric Co. on Thursday said it will focus on low-cost thin film photovoltaic technology as part of its efforts to develop a cheaper, more efficient solar module to compete in the growing alternative energy market.

GE plans to harness cadmium telluride technology from PrimeStar Solar Inc., a start up firm that GE holds a major stake in.

General Electric’s solar division currently provides solar modules made from standard silicon, which is more expensive.

Shares of General Electric rose 15 cents to close at $18.19.