Company to initially focus on space limited solar applications that require high efficiency cells
SANTA BARBARA, Calif.--Solar3D, Inc. (OTCBB: SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, today announced that its initial market focus will be on those applications that have limited space for solar cells. Over time, as the costs of manufacturing continue to decline, the company's new technology will roll out to the mass market.
"One of the key strength of our new, super-efficient solar cell is its ability to produce more power in a smaller space"
"One of the key strength of our new, super-efficient solar cell is its ability to produce more power in a smaller space," said Jim Nelson, President and CEO of Solar3D. "Our ultimate goal is to offer a highly efficient solar cell for the mass market. To get from here to there, we intend to focus on immediate market opportunities where we can use our competitive advantage to add the most economic value. Today, low efficiency solar cells make up a majority of the solar market. In space limited applications, these low efficiency solar cells just don't make economic sense."
A much more efficient 3-dimensional solar cell translates into a much smaller solar footprint producing equivalent power. Smaller, more powerful systems are ideal for home or industrial roof solar applications where space is at a premium. Additional building applied or integrated applications are also ideal target markets. Other applications for which the super efficient solar cell system is ideal include military, law enforcement, solar powered consumer devices, outdoor sporting use, and even applications for vehicles and boats.
"These applications alone represent an enormous opportunity in the future of the solar industry," said Nelson, "The profit margins from these space limited applications are much higher than conventional utility scale solar applications. In fact, IHS iSupply, a leading market intelligence firm, projects that the number of high efficiency silicon solar cells consumed by the market will double from 14% in 2011 to 31% in 2015. We are right on track to ride this new trend in the solar industry."
Nelson continued, "As we penetrate the market and accumulate manufacturing experience, all of the benefits of that experience, including economies of scale, know how, fine tuning of the design, and modification of the process, will result in a cost competitive and highly efficiency solar cell for the mass market, including utility scale solar farms."
The company has received numerous inquiries from prospective partners and customers and is initiating business development efforts to establish Solar3D cells in the marketplace.
About Solar3D, Inc.
Solar3D, Inc. is developing a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. Up to 30% of incident sunlight is currently reflected off the surface of conventional solar cells, and more is lost inside the solar cell materials. Inspired by light management techniques used in fiber optic devices, our innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. This next generation solar cell will be dramatically more efficient, resulting in a lower cost per watt that will make solar power affordable for the world. To learn more about Solar3D, please visit our website at http://www.Solar3D.com.