General Electric Company and its partners plan to invest $63 million in 10 green energy projects across the country Reuters reports.
According to the news source, the investments include those in solar thermal systems, LED lighting and other areas and represent part of the company's "ecomagination challenge," which strives to help fund energy start-ups.
The latest investments are also an attempt by General Electric to help new technology become available on the consumer level, so the company is teaming up with Best Buy Company in order to expedite this process.
For instance, a solar air conditioning system and home energy device are expected to be available in Best Buy stores sometime in 2012, the company said.
"We're going to fast-track them from the idea stage to store shelves," Beth Comstock, the firm's chief marketing officer, said in a statement.
According to The Associated Press, the latest round of GE investments will be made in companies from Massachusetts, California, Texas and Pennsylvania, as well as the UK.