The solar market continues to be in its infancy. New a few ideas, inventions, and invention will be the principle rather than the exception. With however, an exciting new solar energy technology has been introduced. The newest technology isn’t in regards to a new mousetrap, but rather, an modern method to make those mousetraps cheaper and more efficiently. In this short article, we shall examine the company and people responsible for the brand new idea. We may also examine the strategy and the entire influence to the solar and alternative power sector.
The company is 1366 Technologies- This NRG Innovations small start-up was launched in 2008 and is situated in Lexington, Massachusetts. The co-founders are Emmanuel Sachs and Frank truck Mierlo. Emmanuel Sachs is a former MIT teacher and features a long history of revolutionary ideas. He is the inventor of the sequence ribbon photovoltaic process that has been commercialized by Evergreen Solar. Sachs can also be credited as being a co-inventor of the 3-D making method that will produce things from a computer model. Emmanuel Sachs is currently the Fundamental Engineering Officer and Frank truck Mierlo is the current CEO. Former Office of Energy Secretary Stephen Chu statements that 1366 Systems is one of the success experiences of the Federal alternative power plan known as ARPA-E. Next, we are likely to examine the engineering that the company has developed.
1366 Systems recently exposed a 25 megawatt exhibition place in Bedford, Mass. to production photovoltaic cells. The business statements to truly have a greater method for the production of PV cells. The existing business standard is always to cut the wafers from a sizable block of silicone material. This results in the wastage of 50 per cent of the material. 1366 Technologies intends to throw the multicrystalline wafers having an computerized process. A normal around 17 % performance can stay the same, but the newest method will result in a 50 to 65 per cent manufacturing cost-savings. This may help them to cut expenses by an progressive manufacturing process as opposed to a growth in power effiencies. Today we shall examine their funding sources and partnerships.
The organization has ideas to scale-up their 25 megawatt place to a 1 gigawatt facility. Up to now, the organization has raised 46 million in funding from various opportunity capital groups. These include North Bridge Opportunity Partners, Polaris Venture Partners, and others. Funding partners also contain NRG Power and Hanhwa Solar. They have also attached a Division of Power loan for 100 million. The estimated charge of the 1 gigawatt place is 200 million. The business seems to have organized acceptable economic help because of their endeavor. In our realization, we will examine the possible affect to the solar business using this new process.
1366 Technologies is not an economic success yet. They will need to resolve any issues connected for their new production processes. They will also need certainly to show they are able to really deliver a lower-cost and similarly successful product. Competition is tough in the solar market and there’s presently excess production capacity. This has frustrated charges for PV cells and will make it more problematic for 1366 Systems to supply on their promise. However, the solar power technology is interesting, and a new and modern idea.
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