SolarCity has signed an agreement to acquire Silevo, which is a solar panel technology and manufacturing company, where the two are now in discussions with the state of New York to build an initial manufacturing plant in the state.
This plant will eventually be generating 1GW of solar power in the next two years, making it one of single largest solar panel production plans in the world. Better yet, it will be followed in the years after by another one or more significantly larger plants, "at an order of magnitude greater annual production capacity", according to a blog post on SolarCity written by Elon Musk, Peter Rive and Lyndon Rive. Musk being the founder of SpaceX, eBay and Tesla Motors.
The problem with companies of today, is that they are producing "relatively low photonic efficiency solar cells at uncompelling costs" but the work between SolarCity and Silevo should hopefully see a change to that. They continue, saying: "Without decisive action to lay the groundwork today, the massive volume of affordable, high efficiency panels needed for unsubsidized solar power to outcompete fossil fuel grid power simply will not be there when it is needed".