Solyndra Solar Panels To be Cost Effective In 2 Years
Solyndra have claimed that their solar panels will produce electricity at a price that's competitive with fossil fuels in the next 2-3 years. Kelly Truman, the Vice President says, "We see a clear path and in 2-3 years we'll hit grid parity." With a $535 million loan from the DOE, Solyndra will use that money to finance the building of a new factory. Their current factory is able to produce 110 MW of solar panels, with each panel able to produce 200W of energy each. The new factory will be able to produce 550MW of solar panels annually. That will be enough solar energy to power almost 200,000 homes. Using proprietary cylindrical modules and thin-film technology, Solyndra solar panels are designed to provide the lowest installed cost yet have the highest solar electrical energy output per system. According to Truman, the demand for Solyndra solar panels are outpacing their production and each quarter has brought increases in revenue from commercial shipments. With the $535 million cash boost from the government and around $820 million in venture capital, Solyndra certainly isn't short of cash. Now, only time will tell if they reach their target of cost parity in 2-3 years. To return to our solar power news. To return to our page on home page.
|
