The solar market continues to be in their infancy. New ideas, inventions, and invention are the rule as opposed to the exception. With that said, a fantastic new solar energy technology has recently been introduced. The newest engineering is not of a new mousetrap, but instead, an innovative method to make these mousetraps cheaper and more efficiently. In this information, we will investigate the organization and persons accountable for the brand new idea. We will even discuss the approach and the general influence to the solar and renewable power sector.
The organization is 1366 Technologies- That NRG Innovations small start-up was established in 2008 and is located in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Joe van Mierlo. Emmanuel Sachs is just a former MIT teacher and features a long record of impressive ideas. He’s the inventor of the sequence ribbon photovoltaic method that was commercialized by Evergreen Solar. Sachs is also attributed like a co-inventor of the 3-D making process that can develop objects from the computer model. Emmanuel Sachs happens to be the Main Engineering Official and Joe vehicle Mierlo is the present CEO. Former Department of Energy Secretary Stephen Chu claims that 1366 Systems is one of the achievement experiences of the Federal renewable energy program called ARPA-E. Next, we are likely to discover the technology that the company has developed.
1366 Systems recently opened a 25 megawatt exhibition seed in Bedford, Mass. to manufacture photovoltaic cells. The business statements to truly have a better process for the manufacturing of PV cells. The present industry standard is always to slice the wafers from a big stop of plastic material. This benefits in the wastage of 50 % of the material. 1366 Technologies wants to throw the multicrystalline wafers having an computerized process. The industry standard of about 17 per cent efficiency will remain the same, but the newest method will result in a 50 to 65 per cent manufacturing cost-savings. This may permit them to cut prices by an revolutionary production process rather than a rise in power effiencies. Today we shall examine their funding places and partnerships.
The organization has options to scale-up their 25 megawatt seed to a 1 gigawatt facility. So far, the company has raised 46 million in funding from different venture money groups. These include North Link Venture Partners, Polaris Venture Partners, and others. Funding companions also include NRG Energy and Hanhwa Solar. They’ve also guaranteed a Office of Power loan for 100 million. The estimated price of the 1 gigawatt place is 200 million. The company seemingly have fixed appropriate financial help due to their endeavor. Inside our conclusion, we shall discuss the probable affect to the solar industry using this new process.
1366 Systems is not a financial accomplishment yet. They will have to solve any problems connected to their new manufacturing processes. They’ll also need to show they could actually produce a lower-cost and similarly efficient product. Competition is intense in the solar field and there’s presently excess production capacity. This has depressed costs for PV cells and is likely to make it more burdensome for 1366 Technologies to provide on their promise. However, the solar power technology is fascinating, and a new and revolutionary idea.
Find out more about the brand new discoveries which can be occurring everyday in the solar industry. Learn more about new solar energy technology at my Sustainable Power Advantage website. You can understand different green energy resources too. Press the links over to browse the length of sustainable energy.