Toshiba (TOSBF.PK) Enters Solar Energy Business With New Photovoltaic Systems Division

With the establishment of a new photovoltaic systems division, Toshiba is trying to carve out a piece of the solar energy market for itself. Toshiba will not be targeting residences or the "average Joe;" rather, they are angling for large industrial customers. Also, Toshiba will not make solar panels in-house. Instead, they will buy solar panels from outside companies and use them along with Toshiba’s proprietary supercharge ion battery (SCiB) technology and the companies existing systems integration expertise to create solar energy solutions for these customers.

According to a report from Solid State Technology,

The unit, structured within Toshiba’s transmission distribution & industrial systems company, will focus on large, megawatt-scale projects for utility and industrial plants, for which there is a projected solar PV demand seen nearly doubling to ~$24.4B in 2015 from ~$13.3B today, the company said in a statement. The company is gearing up to take about a tenth of that market for its own, targeting annual sales of about ¥200B (US $2.2B) by 2015, "utilizing existing global sales channels."

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