The solar industry is still in their infancy. New some ideas, inventions, and creativity would be the rule rather than the exception. With that being said, an exciting new solar power technology has been introduced. The new engineering isn’t in regards to a new mousetrap, but instead, an innovative method to create these mousetraps cheaper and more efficiently. In this article, we will explore the company and persons responsible for the new idea. We will even examine the strategy and the general affect to the solar and renewable power sector.
The business is 1366 Technologies- That NRG Innovations little start-up was launched in 2008 and is situated in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank vehicle Mierlo. Emmanuel Sachs is really a former MIT professor and features a long record of modern ideas. He’s the inventor of the chain bow photovoltaic method that has been commercialized by Evergreen Solar. Sachs is also credited like a co-inventor of the 3-D printing method that could build things from the computer model. Emmanuel Sachs is currently the Key Engineering Specialist and Joe vehicle Mierlo is the current CEO. Former Office of Power Assistant Stephen Chu claims that 1366 Systems is among the accomplishment stories of the Federal alternative power program referred to as ARPA-E. Next, we are likely to discover the technology that the company has developed.
1366 Systems lately exposed a 25 megawatt demonstration place in Bedford, Mass. to manufacture photovoltaic cells. The organization states to truly have a better process for the manufacturing of PV cells. The present business normal is always to slice the wafers from a sizable stop of plastic material. That benefits in the wastage of 50 % of the material. 1366 Systems wants to cast the multicrystalline wafers having an computerized process. The common of about 17 percent performance may stay the exact same, but the brand new method will result in a 50 to 65 per cent manufacturing cost-savings. This may help them to reduce costs by an progressive production process rather than a rise in power effiencies. Now we shall examine their funding sources and partnerships.
The organization 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 numerous venture capital groups. These generally include North Bridge Venture Partners, Polaris Opportunity Lovers, and others. Funding companions also include NRG Energy and Hanhwa Solar. They have also attached a Team of Power loan for 100 million. The estimated price of the 1 gigawatt plant is 200 million. The organization seems to have established acceptable economic support for his or her endeavor. Within our conclusion, we will discuss the possible impact to the solar industry out of this new process.
1366 Systems is not an economic accomplishment yet. They should solve any issues related for their new manufacturing processes. They will also have to show they are able to actually supply a lower-cost and equally effective product. Competition is brutal in the solar industry and there’s presently surplus production capacity. It has frustrated costs for PV cells and can make it more problematic for 1366 Technologies to deliver on their promise. Nevertheless, the solar energy technology is exciting, and a brand new and progressive idea.
Learn more about the new discoveries that are happening day-to-day in the solar industry. Discover more about new solar energy technology at my Sustainable Energy Gain website. You are able to understand other alternative energy sources too. Press the hyperlinks over to read the length of sustainable energy.