Californian company BioSolar has entered into an agreement with Korean sales reps Shin Ha to supply plant-based backsheet components to Asian PV manufactures targeting the lucrative North American market.
BioSolar CEO Dr David Lee says cutthroat global competition, a 50% fall in solar panel prices in two years, and the US government ‘buy green’ scheme means solar panel manufacturers are looking for ways to make the green technology even greener.
“Competition in the worldwide marketplace is working in our favor,” Dr Lee said. “As prices for solar panels continue to drop, manufacturers are searching for alternative PV components that cost less while matching or exceeding the durability of incumbent components.
“Because we achieved the highest possible biobased contents rating from the USDA, we are seeing increased interest in our BioBacksheet from foreign PV panel manufacturers pursuing sales to the US government.”
Under the BioPreferred scheme US government agencies are to give preferential consideration to purchasing products substantially not petroleum based.
North America is the fastest growing PV consumer market and will grow by a compound annual growth rate of 30.7% in annual installations during 2011- 2016, according to a recent market research report.