Intel Corp. disclosed that an internal team has been working on technology for use in solar panels, and now is spinning off that effort to form a new company. The chip maker said the company, SpectraWatt Inc., will make photovoltaic cells, the primary component in solar panels that use sunlight to generate electricity. It will receive $50 million in initial funding from a consortium including Intel's venture capital arm, Goldman Sach's Cogentrix Energy subsidiary, PCG Clean Energy and Technology Fund, and Solon AG, a German solar-panel maker. Intel's move is the latest in a scramble among Silicon Valley companies to...