The idea behind Optony, a year-old startup that is working on combining thin film solar cells with a solar concentrating system, is to merge two of the solar industry’s low-cost options to produce solar power prices that rival grid parity. At least that’s the theory — the company is still in the development phase. P. R. Yu, CEO and founder of the Sunnyvale, Calif.-based startup, tells us that the company has just started to raise a Series A round to help continue work on its rooftop and ground-mounted solar system.
Usually, solar concentrating systems use mirrors and lenses to focus sun rays onto tiny, highly-efficient, multi-junction solar cells that can withstand the high concentrations and heat. The problem is that while only a small amount of the solar cell is used in these systems, the material itself can be pretty expensive. Yu says the company’s thin-film material, which it plans to manufacture itself, is cheaper than these cells as well as traditional silicon-based photovoltaics.
Read More about Optony: Where Thin Film and Concentrating Solar Meet