Summary
As noted in this source article, Prism Solar, which is headquartered in Highland, N.Y., has been able to replace a large percentage of the crystalline silicon with its patented Holographic Planar Concentrator film, as a disruptive, low-cost solution for the green revolution, while retaining or surpassing the initial cell efficiency.
Analysis
As noted in this source article, New York-based Prism Solar Technologies Inc., which has its research center in Tucson, Arizona, is planning to begin production of solar materials that redirect and concentrate sunlight to boost efficiency and reduce the use of costly crystalline silicon, which is used in approximately 85 percent of the solar cell market. Prism Solar, which is headquartered in Highland, N.Y., has been able to replace a large percentage of the crystalline silicon with its patented Holographic Planar Concentrator film, as a disruptive, low-cost solution for the green revolution, while retaining or surpassing the initial cell efficiency.
The technology was originally created by Glenn Rosenberg, who has a master's degree in electrical engineering from the University of Arizona and is the chief technology officer for Prism. Rosenberg developed the innovative concept in 1995, which led to the company’s founding in 2005. Prism received a $1.5 million grant from the New York State Energy Research and Development Authority in July and is currently constructing a new module production line, compatible with roll-to-roll processing, at its 93,000 square foot New York facility that will generate hundreds of green jobs.
This company is able to improve the kilowatt-hour power generation of current solar panels on the market as well as lower their operating temperature for enhanced performance by replacing about 50 percent of the standard amount of silicon with its plastic holographic film. This film is hoped will aid in lowering the cost of power from solar panels- from the recently stated average conventional solar module cost of $2.50 per watt, by analysts at New Energy Finance, to about $1 per watt, denoted as the grid parity benchmark for competitiveness with conventional energy sources. In essence, the holographic film redirects light to the solar cells, acting as a concentrating element, which not only concentrates light from different angles but also harvests the most beneficial colors in the spectrum. This is a more fundamental branch of concentrating solar power (CSP), which would finally expand this type of solar power geographically beyond simply the western U.S., where it only resides at this time, to both power plants and even roof-top applications- in the east and the west.
Dr. Alex Cronin, an associate professor in the University of Arizona department of physics, conducted independent studies on prototypes of the modules this past spring. Previously, this university has collaborated with other Tucson solar technology companies for breakthrough innovations. Results have shown that the holographic film has doubled the amount of energy derived from the cells. Other related tests on Prism solar modules were performed at the National Renewable Energy Lab in Golden, Colorado. The holograms are able to track the sun throughout the day without costly mechanical tracking devices used in typical CSP systems; plus they select from a wider and more beneficial set of wavelengths of light, concentrating them onto silicon cells. Thus, a higher power output can be obtained with a clean renewable energy source.
The company's holographic film was named the "Most Promising Technology" at the 2007 Cleantech Network Investment Forum in Toronto, Canada. Prism recently received approximately $5 million in bridge financing and has raised a total of $15 million. As a result, the company plans to begin module production in January and module sales next fall. Moreover, this photovoltaic technology would be eligible for numerous green stimulus bank loan and research and development programs.
The business model of most crystalline silicon panel manufacturers is associated with lowering the cost of solar energy by building large-scale panel factories and solar power farms and relying on economies of scale. Many heavyweight companies such as Applied Materials, Samsung, Sharp, and SunPower have pursued this path with crystalline silicon to meet the demands of the green revolution. However, Prism is exploring a different model that allows for smaller, distributed assembly plants, which would be a benefit also to emerging companies in the industry struggling to gain appropriate financing as many banks adhere to conservative lending practices.
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
