SunPower, which makes solar panels and develops power generation projects, has seen quick growth of its residential solar lease program since its launch last year. The surge reflects the growing popularity of solar leases in California and elsewhere.
Concentrating solar photovoltaics use optics to concentrate sunlight onto solar cells to boost energy production. While the tech is still in an early stage, some startups are looking to ramp up, like Fremont, Calif.-based Solaria, which has raised another $30 million.
Once upon a time, concentrating photovoltaic (CPV) technology received ridicule for its design and promise to deliver cheaper electricity. But CPV is now attracting new entrants such as SunPower, the long-time maker of traditional solar panels that on Tuesday launched a CPV system.
As energy use by the U.S. military grows — the Department of Defense (DoD) uses 300,000 barrels of oil every day — the conversation about how the military can consume cleaner power continues to grow, too. One potentially good fit could be concentrating solar photovoltaic technology.
Here’s good news for proponents of a solar tech that some thought would never be widely used: The U.S. Department of Energy said Tuesday it’s offering a conditional commitment for a $90.6 million loan guarantee to build a concentrating photovoltaic solar power plant.
A rooftop at Santa Clara University is now home to a next-generation solar technology. Specifically the university has commissioned a solar concentrating photovoltaic project — which uses both mirrors to concentrate sunlight and also solar cells — from startup Chromasun.
Can solar concentrating photovoltaic technology ever become mainstream? There’s a new project that shows it can: Tenaska Solar Ventures will build a 150 MW of CPV systems that will produce electricity for San Diego Gas & Electric. The largest CPV installation to date is 1 MW.
Morgan Solar, a concentrating photovoltaic (CPV) startup, is raising a B round of $20-25 million and hopes to complete the fundraising by as early as April, Nicolas Morgan, vice president of business development at the company, told us.
Morgan Solar has settled on a production plan and is ready to offer its first system that use concentrated sunlight and solar cells to produce electricity in 2011. Now Morgan Solar is counting on its new CEO to deliver a new round of funding.
Solaria, whose technology uses lenses to concentrate sunlight onto solar cells in order to boost electricity generation, said Wednesday it has raised an additional $20 million for its previously announced Series D round of financing.