CPV technology is widely acknowledged to have the potential to be less costly than current flat panel and thin film photovoltaic (PV) products by exploiting the very high efficiency of advanced CPV cells, and thereby produce electricity at a lower cost per kWh. CPV cells have reached over 40% efficiency in production, and under current development efforts are expected to achieve in excess of 50%. Additionally, in sunny climates the two-axis tracking of CPV systems also increases annual energy production up to 30% or more, compared to standard non-tracking PV systems.
The Company’s new patent pending design utilizes currently available multi-junction solar cells combined with innovative approaches to concentrator optics, thermal management, power electronics, and ease of manufacturing.
The Company’s product demonstrates a unique flux management capability that enables non-uniform light intensity to be used, enabling its integration with a variety of optical systems including conventional Concentrating Solar Power (CSP) solar dishes and heliostat systems, instead of being limited to special purpose built optics and lenses. This can create broad market potential. The CPV system translates CSP concentrated light to efficiently deliver 1200 “suns” to the CPV cells.
Additionally, the new CPV system uses internal liquid-to-air cooling, which also can deliver free heat for on-site customer use enabling Combined Heat and Power (CHP) applications.
The primary factors that should lead to lower cost per kWh power include high efficiency, a design focus on low cost components and manufacturing processes, the ability to configure the product to leverage a variety of CSP optics, and the CHP potential.
“This new product introduction utilizes the Company’s core competencies in our solar dish concentrator designs and structures, thermodynamics, optics, and electronics. Leveraging our competencies into a diverse product portfolio is key to our business strategy,” said Brad Forst, CEO.
The Company’s product development and testing is conducted at its headquarters and operations facility at Southwest Solar Research Park in Phoenix, Arizona.