A Swiss startup company called Insolight, announced the creation of a new technology that can double the efficiency of the solar panels.
Regular solar panels are reaching an efficiency of about 18%, but the tests made with the new technology show an improvement of the efficiency up to the level of 36.4%.
Florian Gerlich, COO & Co-Founder of the company says that even if the solar panel market provides an efficiency around 18%, the new technology can double the return on investment by doubling the efficiency achieved by the solar panel.
The new technology does not require the rotation of the solar panel after the Sun, instead it can follow the Sun without moving from the original position, which makes it suitable for the solar panels mounted on rooftops.
Insolight says that there are other solar concentrators in the world today, but all of them require the rotation of the panels after the Sun.
The company provides a new idea of tracking the Sun, that redirects the sunlight coming from all directions towards the solar concentrator.
The concentrator is placed below and stays in a fixed position, which means that can be mounted like a traditional solar panel.
Combining ease of installation with high efficiency opens the opportunity for competitive solar electricity costs.
The solar panel created by Insolight consists of tiny lenses spread on the whole surface, and under each of these lenses we can find a solar cell.
The static tracking of the Sun is carried out due to the special shape of the lenses that can follow the Sun from morning to evening.
The panels produced by Insolight that are using the new technology are more expensive than traditional solar panels, but the company says that by using the new panels, energy prices are slashed from 40 U.S. cents per kWh to 9 U.S. cents.
During this summer, the company plans to test the new technology on a larger solar panel in Lausanne, Switzerland.
Insolight says that the technology that doubles the efficiency of a solar panel will be on the market in 2018.
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