According to this Forbes article by contributor Ucilia Wang, a Swedish solar start-up company has devised a way to get more energy out of solar panels.
Despite the U.S. solar market growing 76% in 2012 (source), an oversupply of panels has made the market difficult to grapple with. Consumers have a large gamut of choices, thus putting competitors out of business easily. This new technology from Sol Voltaics has made the start-up a potential forerunner.
Called SolInk, the technology includes adding a layer of gallium arsenide nano wires on top of normal solar panels. Gallium arsenide, an expensive material that excels in generating more energy, will make Sol Voltaics’ panels 25% more efficient than competitors’. 25% increased efficiency means a normal 250 watt panel will generate 250 watts with the nano wires.
According to Sol Voltaics’ CEO David Epstein, the only way for solar companies to win over competitor’s in this buyer’s market is to cut down costs and improve efficiencies.
Recently in the U.S., Silicon-Valley based SunPower revealed a new line of efficient panels. With more efficient panels, consumers will have to use less, thus making it ideal for homeowners with limited roof space.
With the solar energy beginning to adjust, do you think more consumers will purchase panels for their homes? Where do you see the solar energy industry going?
By: Lindsay Finan