The solar market continues to be in their infancy. New a few ideas, inventions, and innovation would be the rule rather than the exception. With that being said, a fantastic new solar power technology has been introduced. The newest technology is not about a new mousetrap, but rather, an impressive process to make these mousetraps cheaper and more efficiently. In this article, we shall examine the organization and persons in charge of the brand new idea. We will even discuss the strategy and the entire influence to the solar and renewable energy sector.
The company is 1366 Technologies- That NRG Innovations small start-up was founded in 2008 and is located in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank van Mierlo. Emmanuel Sachs is just a former MIT teacher and features a extended record of progressive ideas. He’s the creator of the chain bow photovoltaic method which was commercialized by Evergreen Solar. Sachs can also be acknowledged to be a co-inventor of the 3-D printing process that may produce items from the pc model. Emmanuel Sachs is the Chief Technology Specialist and Joe vehicle Mierlo is the present CEO. Former Team of Power Secretary Stephen Chu statements that 1366 Technologies is one of many achievement stories of the Federal alternative energy program called ARPA-E. Next, we are going to investigate the technology that the organization has developed.
1366 Technologies lately exposed a 25 megawatt demonstration place in Bedford, Mass. to production photovoltaic cells. The business statements to really have a better method for the production of PV cells. The existing business typical is always to slice the wafers from a large stop of plastic material. That effects in the wastage of 50 per cent of the material. 1366 Systems intends to cast the multicrystalline wafers by having an automated process. The industry normal around 17 percent performance may remain the exact same, but the newest method can lead to a 50 to 65 per cent production cost-savings. This can allow them to reduce costs by an impressive manufacturing process rather than a rise in energy effiencies. Now we shall examine their funding places and partnerships.
The organization has options to scale-up their 25 megawatt place to a 1 gigawatt facility. So far, the organization has raised 46 million in funding from numerous venture capital groups. These include North Link Opportunity Companions, Polaris Venture Lovers, and others. Funding lovers also include NRG Energy and Hanhwa Solar. They’ve also secured a Department of Energy loan for 100 million. The projected price of the 1 gigawatt plant is 200 million. The business appears to have fixed acceptable economic support due to their endeavor. Inside our realization, we shall discuss the possible influence to the solar industry using this new process.
1366 Technologies is not a financial accomplishment yet. They will have to solve any issues related for their new production processes. They’ll also have to prove they can really offer a lower-cost and similarly successful product. Opposition is intense in the solar sector and there’s presently surplus production capacity. This has frustrated charges for PV cells and can make it more hard for 1366 Technologies to supply on their promise. However, the solar power technology is exciting, and a new and impressive idea.
Find out about the newest discoveries which can be happening daily in the solar industry. Find more about new solar energy technology at my Sustainable Energy Gain website. You can understand other green energy resources too. Press the hyperlinks over to browse the length of sustainable energy.