In its “Cool Vendors in Solar Energy, 2010” report, Gartner highlights some of the solar energy start-ups to keep an eye on that it believes are developing technologies and innovations that will likely have a strong impact on the adoption of solar energy. Companies included in the review include, Applied Quantum Technology, BrightView Systems, Confluence Solar, Innovalight and Solexant.
Gartner noted that innovation remains strong in the PV industry, although venture funding is somewhat limited in comparison with two or three years ago.
A key hurdle for start-up’s is to overcome the lack of project finance for solar installation projects as finance requirements have turned to the ‘bankability’ of projects, which dictate the use of previously used and known vendors and products.
According to the market research firm, vendors in the Cool Vendors report are developing innovations that have the potential to dramatically lower the cost of PV solar energy, if they can surmount the bankability barrier. This has become a key focus of start-ups since the collapse in average selling prices that occurred during 2009.