If Google co-founders are backing a project, it's a pretty good indicator that its something to watch out for. Nanosolar could just be the next big thing in solar power.
"The company, which has raised $150 million and built a 200,000-square-foot factory here, is developing a new manufacturing process that “prints†photovoltaic material on aluminum backing, a process the company says will reduce the manufacturing cost of the basic photovoltaic module by more than 80 percent," according to the NY Times.
At $1 per watt, solar energy becomes cheaper than coal. An entire system built of these solar panels would cost $2 per watt as opposed to $2.1 a watt, plus the cost of fuel and emissions according to the Energy Department. To lower the price, Nanosolar has concentrated on making the production process cheaper rather than making the solar panels more efficient. This is a major price breakthrough that could bring solar power to a much broader market.
Key Themes Behind This Trend
- Cheaper Solar Power
- Nanosolar's innovative manufacturing process could reduce the cost of solar panels by over 80%, making solar power more affordable and accessible.
- Printed Photovoltaic Material
- Nanosolar's printing technology offers a new way to produce photovoltaic material, revolutionizing the manufacturing process.
- Broader Market for Solar Power
- By significantly lowering the cost of solar panels, Nanosolar opens up the opportunity for solar power to be adopted by a wider range of consumers and industries.
Where This Applies
- Renewable Energy
- The renewable energy industry can benefit from Nanosolar's cost-effective solar panel manufacturing process, increasing the adoption of solar power.
- Manufacturing
- The manufacturing industry could explore Nanosolar's printing technology to innovate their own production methods, potentially reducing costs and improving efficiency.
- Construction
- With cheaper solar panels available, the construction industry can incorporate solar power more extensively in building projects, promoting sustainability and reducing energy costs.
