Intel sets up solar cell maker SpectraWatt

Intel doesn’t want to be left out of the next big thing, namely solar power.

So, the company has put up $50 million and gathered other investors to help set up SpectraWatt, Inc., a spin-off company that will manufacture solar cells and work to improve solar cell manufacturing to cut the cost of solar power. Construction on the Oregon-based factory starts this summer, and solar panel makers can start getting products shipped to them about a year from now.

Intel is one smart cookie, paying attention to the fact that solar is approaching the cost of traditional electricity-generation technologies. The company says it expects the solar industry to grow 30% to 40% in the next few years.

Knowing that it takes more than just a few solar cells to get electricity to users, Intel has also invested in Grid Net, a smart-grid company that brokers communication between utilities and customers. This shows that Intel gets it -- information technology companies have a role to play in clean tech and renewable power, as creators, networkers, and purchasers.

Via Cnet