The solar industry remains in their infancy. New ideas, inventions, and innovation are the concept rather than the exception. With that said, a fantastic new solar energy technology has been introduced. The brand new technology is not of a new mousetrap, but rather, an modern process to produce these mousetraps cheaper and more efficiently. In this information, we shall discover the company and people accountable for the new idea. We will even examine the method and the general influence to the solar and renewable energy sector.
The organization is 1366 Technologies- That NRG Steering Wheels little start-up was started in 2008 and is found in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank vehicle Mierlo. Emmanuel Sachs is really a former MIT professor and has a long history of modern ideas. He’s the founder of the string ribbon photovoltaic process which was commercialized by Evergreen Solar. Sachs can also be awarded to be a co-inventor of the 3-D making method that can produce things from a pc model. Emmanuel Sachs is currently the Main Technology Official and Joe vehicle Mierlo is today’s CEO. Former Division of Energy Assistant Stephen Chu states that 1366 Systems is one of many accomplishment stories of the Federal alternative energy plan referred to as ARPA-E. Next, we are likely to examine the technology that the business has developed.
1366 Technologies recently opened a 25 megawatt exhibition plant in Bedford, Mass. to manufacture photovoltaic cells. The company states to have a greater process for the manufacturing of PV cells. The current industry normal is always to slice the wafers from a large stop of plastic material. This results in the wastage of 50 per cent of the material. 1366 Technologies wants to throw the multicrystalline wafers with an automated process. A normal of approximately 17 per cent efficiency may stay the same, but the brand new process can lead to a 50 to 65 percent manufacturing cost-savings. This will permit them to cut prices by an impressive production method rather than a growth in power effiencies. Now we will examine their funding places and partnerships.
The business has programs to scale-up their 25 megawatt plant to a 1 gigawatt facility. To date, the company has raised 46 million in funding from various venture money groups. These generally include North Bridge Opportunity Associates, Polaris Venture Associates, and others. Funding companions also include NRG Energy and Hanhwa Solar. They’ve also guaranteed a Department of Power loan for 100 million. The projected cost of the 1 gigawatt plant is 200 million. The business seems to have established acceptable economic help because of their endeavor. Inside our realization, we will discuss the possible affect to the solar business from this new process.
1366 Technologies isn’t an economic achievement yet. They should resolve any problems related with their new manufacturing processes. They will also have to show they could really provide a lower-cost and similarly efficient product. Competition is fierce in the solar market and there is currently surplus manufacturing capacity. This has depressed prices for PV cells and will make it more difficult for 1366 Technologies to provide on the promise. However, the solar energy technology is interesting, and a new and revolutionary idea.
Learn more about the brand new discoveries that are occurring everyday in the solar industry. Learn more about new solar power technology at my Sustainable Energy Gain website. You are able to understand other renewable energy resources too. Click the hyperlinks over to browse the course of sustainable energy.