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Solar3D has released a statement claiming its three-dimensional solar cell could have delivered more than US$6.2 billion of additional electricity in the world last year. The company’s analysis indicates that a typical 17% efficient solar cell performs more like a 5% efficient cell when light is shining 20 degrees from the side, such as during the morning or evening hours.
The company estimates that its Solar3D cell can maintain a high 25% efficiency for a longer period of time, over the course of a day and year. Solar3D states that this translates into 200% more power than conventional solar cells and a system payback period that is approximately half the time of the current solar technologies.
“Innovation can make an enormous difference in the real world,” said Jim Nelson, CEO of Solar3D. “For example, had our three dimensional solar cell been substituted across the installed photovoltaic base of 67,400MW in the world, we could have generated more than US$6.2 billion of additional electricity. This is the effect of increased conversion efficiency and wide-angle sunlight collection.”
“Our goal is to lower the Total Cost of Ownership (TCO) of a solar power system by allowing it to capture more sunlight and produce more electricity, which will speed the adoption of solar energy,” added Nelson. “Even with 67,400MW of installed PV today, we generate less than 1% of the total electricity in the world. This means there is an extraordinary market opportunity for Solar3D and a lot of money to be made in the solar industry.”