Utilities don’t often invest in new types of technology manufacturing, but then, California’s Pacific Gas & Electric isn’t your average utility. PG&E has requested state approval to enable it to invest $9.9 million of taxpayer money in a solar engineering and manufacturing service center run by commercialization startup SVTC Technologies.
PG&E said the investment in the SVTC project will help reduce the cost of solar and benefit consumers. The startup secured a $30 million grant from the U.S. Department of Energy last summer to build a manufacturing center in Silicon Valley where its customers can fine-tune various solar cell manufacturing technologies before commercializing them. SVTC needs to raise $9.9 million in matching funds in order to make use of the DOE money, said the California Public Utilities Commission, which is scheduled to consider PG&E’s request next week. A $9.9 million investment would cover “just under 25%” of the project’s cost.
via GigaOM
March 14, 2012
