The solar industry continues to be in its infancy. New ideas, inventions, and creativity will be the rule as opposed to the exception. With that being said, an exciting new solar power engineering has been introduced. The new technology is not about a new mousetrap, but instead, an innovative method to create those mousetraps cheaper and more efficiently. In this information, we will investigate the organization and people in charge of the new idea. We will even examine the process and the general impact to the solar and green energy sector.
The organization is 1366 Technologies- That NRG Steering Wheels small start-up was created in 2008 and is situated in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank van Mierlo. Emmanuel Sachs is a former MIT teacher and includes a long record of modern ideas. He’s the creator of the chain lace photovoltaic method which was commercialized by Evergreen Solar. Sachs is also attributed to be a co-inventor of the 3-D making process that could produce things from a computer model. Emmanuel Sachs is the Primary Engineering Official and Frank vehicle Mierlo is the current CEO. Former Department of Energy Assistant Stephen Chu claims that 1366 Systems is one of many accomplishment experiences of the Federal renewable energy plan referred to as ARPA-E. Next, we are going to investigate the technology that the company has developed.
1366 Technologies recently exposed a 25 megawatt exhibition plant in Bedford, Mass. to manufacture photovoltaic cells. The business statements to truly have a greater method for the production of PV cells. The existing market standard would be to slice the wafers from a big block of silicon material. This effects in the wastage of 50 percent of the material. 1366 Systems wants to throw the multicrystalline wafers by having an automatic process. The common of about 17 per cent performance may remain the same, but the brand new method will result in a 50 to 65 per cent production cost-savings. This will allow them to cut prices by an revolutionary manufacturing process as opposed to an increase in power effiencies. Today we will study their funding places and partnerships.
The organization has options to scale-up their 25 megawatt seed to a 1 gigawatt facility. So far, the organization has elevated 46 million in funding from various venture capital groups. These include North Bridge Opportunity Companions, Polaris Opportunity Lovers, and others. Funding partners also contain NRG Energy and Hanhwa Solar. They have also attached a Department of Energy loan for 100 million. The estimated cost of the 1 gigawatt place is 200 million. The organization appears to have established suitable economic help for his or her endeavor. Within our realization, we shall discuss the probable affect to the solar market out of this new process.
1366 Technologies is not a financial accomplishment yet. They should resolve any issues related to their new manufacturing processes. They’ll also need to demonstrate they could really deliver a lower-cost and similarly effective product. Opposition is fierce in the solar field and there’s presently excess production capacity. It has depressed costs for PV cells and could make it more burdensome for 1366 Technologies to deliver on the promise. But, the solar energy engineering is exciting, and a new and revolutionary idea.
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