Toshiba leaps into solar-energy market

While many corporations are slashing employment and sloughing off whole business divisions, Toshiba Corp. is launching a brand-new organization to tap the growing global demand for solar photovoltaic systems.

Toshiba’s new Photovoltaic Systems Division will focus on large-scale solar installations by utilities and industrial plants.

The company says it’s got the cred and know-how to help businesses install megawatt-scale solar energy systems, and points to its “world-class capabilities in system integration, particularly in connecting generation systems to distribution systems.”

Another key element Toshiba says it brings to the table is its SCiB, or Super Charge ion Battery, a “breakthrough rechargeable battery that offers excellent safety, long life and rapid charging.”

With its new division, Toshiba says its goal is to “seek a rapid expansion of the business by focusing on renewable energy and energy-saving products and technologies.” It aims to expand global sales to eventually reach $2.2 billion (US) by 2015.

By that year, the company says, the global photovoltaic systems market for large-scale users is expected to hit $24.4 billion, up from about $13.3 billion in 2008.