Concentrating solar photovoltaics are a type of technology that uses optics to concentrate sunlight onto solar cells to boost energy production. While the tech is still in an early stage, some startups are looking to ramp up, and Fremont, Calif.-based Solaria just raised $30 million in equity in its march to win over converts for its own brand of concentrating photovoltaic technology.
The funding came more than a year after it raised about $65 million in a round, some of which went into setting up a new factory and headquarters in Fremont. Solaria develops solar panels that use lenses to concentrate the sunlight onto silicon solar cells, a process the company says reduces the need of silicon cells by roughly half. The optics are made of a glass sheet, under which are solar cells that have gone through slicing and other steps to become strips.
Solaria has also designed trackers to go with its solar panels and is selling the equipment separately or as part of the package. Trackers tilt the solar panels to follow the sun’s movement throughout the day, and they are used in larger scale projects built for utilities or other businesses. Solaria has built various configurations with its products at its headquarters to show off different solar array designs (see our slide show).
Using trackers adds costs, but it also boosts power generation, a benefit that could be well worth the investment, particularly in markets with incentives based on power production. But Solaria is pushing its relatively new technology at a time when the global market is beset by a glut of solar panels. Prices for solar panels have fallen so quickly – by 30 to 40 percent – that many manufacturers have posted losses and expect tough times to continue in 2012. Solar panel makers are boosting their research and development work to create more efficient solar panels in order to set themselves apart and command higher prices for their products.
The company is among a breed of developers who sought to create alternatives to conventional silicon solar pa