The solar industry continues to be in its infancy. New some ideas, inventions, and development would be the rule as opposed to the exception. With however, a thrilling new solar energy engineering has recently been introduced. The brand new technology is not about a new mousetrap, but alternatively, an revolutionary method to produce these mousetraps cheaper and more efficiently. In this informative article, we will investigate the organization and people accountable for the new idea. We will also discuss the method and the general impact to the solar and renewable power sector.
The business is 1366 Technologies- That NRG Steering Wheels small start-up was established in 2008 and is found in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank truck Mierlo. Emmanuel Sachs is just a former MIT professor and features a long history of impressive ideas. He is the inventor of the chain lace photovoltaic method that was commercialized by Evergreen Solar. Sachs can be credited to be a co-inventor of the 3-D printing method that may develop items from the computer model. Emmanuel Sachs is currently the Chief Technology Official and Frank van Mierlo is today’s CEO. Former Team of Energy Secretary Stephen Chu states that 1366 Technologies is one of the success experiences of the Federal green power plan known as ARPA-E. Next, we will explore the technology that the business has developed.
1366 Systems recently exposed a 25 megawatt demonstration plant in Bedford, Mass. to manufacture photovoltaic cells. The organization states to really have a greater process for the production of PV cells. The existing market typical is always to slice the wafers from a sizable stop of silicon material. That effects in the wastage of 50 per cent of the material. 1366 Systems expects to cast the multicrystalline wafers by having an automatic process. The industry common of approximately 17 percent performance will stay the same, but the brand new process will result in a 50 to 65 % manufacturing cost-savings. This will help them to cut prices by an revolutionary manufacturing method rather than an increase in energy effiencies. Now we will study their funding resources and partnerships.
The business has programs to scale-up their 25 megawatt seed to a 1 gigawatt facility. To date, the business has elevated 46 million in funding from different opportunity money groups. These generally include North Bridge Venture Associates, Polaris Venture Associates, and others. Funding companions also contain NRG Energy and Hanhwa Solar. They’ve also guaranteed a Division of Power loan for 100 million. The estimated cost of the 1 gigawatt plant is 200 million. The company appears to have established acceptable financial help for his or her endeavor. Inside our realization, we shall examine the possible affect to the solar business using this new process.
1366 Technologies is not a financial accomplishment yet. They will have to resolve any issues related for their new production processes. They’ll also need to show they are able to actually deliver a lower-cost and equally successful product. Competition is brutal in the solar industry and there is presently excess manufacturing capacity. It has frustrated costs for PV cells and can make it more difficult for 1366 Systems to supply on their promise. However, the solar energy engineering is exciting, and a brand new and revolutionary idea.
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