Price drives the world’s global electrical energy choices. Unfortunately, that price does not include the societal impact of pollution, mountain top removal, fracking, etc. We all like the idea of clean, renewable energy, but until greener alternatives can compete directly with fossil fuels on a cost per watt basis the global energy markets will continue to favor fossil fuel based options.
Manufactured in volume, Dynamic Spin™ based solar products hold the promise of driving down the price of solar to a level where it can provide a viable alternative on an LCOE (Levelized Cost of Energy) basis with fossil fuel based alternatives.
With less efficient and relatively feature poor flat solar panels, the solar industry has still grown at a compound annual rate of 35% from 2000-2009. Despite the recent global financial crisis, solar installations increased by 73% in 2010, and by 65% in 2011. The industry generated $82 billion in revenues in 2010 and is projected to grow to $100 billion per year by 2014. Solar is the fastest growing industry in the world and is predicted to retain this position for the next 25–50 years. Total worldwide solar panel installations were 64.5 Gigawatt (GW) in 2011 and are projected to grow to 330 GW in 2020. The Department of Energy predicts that as the cost per watt of solar systems declines, the levels of market penetration will increase dramatically.