The solar industry continues to be in its infancy. New some ideas, inventions, and development are the principle rather than the exception. With that being said, a fantastic new solar energy technology has been introduced. The newest technology isn’t of a new mousetrap, but rather, an revolutionary method to create those mousetraps cheaper and more efficiently. In this informative article, we shall discover the business and persons in charge of the newest idea. We will even examine the method and the overall impact to the solar and renewable energy sector.
The company is 1366 Technologies- This NRG Innovations little start-up was started in 2008 and is found in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank van Mierlo. Emmanuel Sachs is just a former MIT professor and features a long record of progressive ideas. He’s the inventor of the chain ribbon photovoltaic process which was commercialized by Evergreen Solar. Sachs can be paid like a co-inventor of the 3-D making process that may develop objects from the pc model. Emmanuel Sachs is the Main Engineering Official and Frank vehicle Mierlo is today’s CEO. Former Office of Power Secretary Stephen Chu statements that 1366 Technologies is one of many accomplishment reports of the Federal alternative energy program known as ARPA-E. Next, we are likely to discover the technology that the company has developed.
1366 Technologies recently opened a 25 megawatt demonstration place in Bedford, Mass. to produce photovoltaic cells. The business states to have a greater method for the manufacturing of PV cells. The present market typical would be to cut the wafers from a sizable stop of silicone material. That benefits in the wastage of 50 per cent of the material. 1366 Systems wants to cast the multicrystalline wafers by having an automated process. The industry standard of about 17 % effectiveness will remain the same, but the newest process will result in a 50 to 65 percent manufacturing cost-savings. This will allow them to reduce expenses by an progressive production process rather than an increase in power effiencies. Today we shall examine their funding sources and partnerships.
The organization has programs to scale-up their 25 megawatt place to a 1 gigawatt facility. To date, the company has increased 46 million in funding from different opportunity money groups. These include North Bridge Opportunity Companions, Polaris Venture Associates, and others. Funding associates also contain NRG Power and Hanhwa Solar. They’ve also secured a Office of Energy loan for 100 million. The estimated price of the 1 gigawatt place is 200 million. The organization seems to have fixed suitable financial support because of their endeavor. Within our conclusion, we will examine the possible affect to the solar industry out of this new process.
1366 Technologies isn’t a financial success yet. They should resolve any issues connected for their new production processes. They will also need to demonstrate they can really deliver a lower-cost and equally successful product. Competition is brutal in the solar sector and there’s currently surplus manufacturing capacity. It has depressed prices for PV cells and will make it more hard for 1366 Technologies to deliver on the promise. However, the solar power engineering is interesting, and a fresh and modern idea.
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